Market Movement

Gasoline stocks tighten prior to US holidayLast week, the US rolled toward a long Fourth of July weekend with unusually tight gasoline inventories and futures prices for natural gas near a 3-month low in expectation of another large build in US underground natural gas storage.Yet futures prices for oil and petroleum products last week slumped in midweek profit taking on the New York Mercantile Exchange, following a rally by those commodities over the previous three trading sessions that was sparked by Tropical Storm Bill threatening refineries along the Louisiana Gulf Coast and by a strike in Nigeria over the increased price of petroleum products there.Traders expecting an increase in US ...

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