Crude prices seesaw

06/05/2006
Crude prices shot past $71/bbl May 23 with predictions of another strong hurricane season, then fell below $70/bbl in the next session because of a bigger-than-expected build in US gasoline inventories just prior to the start of the summer driving season.The June natural gas contract dropped below $6/MMbtu May 24 on the New York Mercantile Exchange in anticipation of a government report of another large build in US gas storage. The Energy Information Administration reported May 25 the injection of 83 bcf of gas into US underground storage during the week ended May 19. That was below the consensus of Wall Street analysts and down from injections of 91 bcf the previous week and 93 bcf durin...
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