Oil dips below $79 on NYMEXNews added by ProWEB Media on August 11, 2010
Gary Linnell

ProWEB Media

Joined: December 27, 2005

The price per barrel for oil this morning dipped below $79 amid the concerns related to demand of the commodity.

The Energy Information Administration this morning announced that U.S. stockpiles of gasoline and distillates were higher than anticipated for the week ending Friday, Aug. 6.

Though crude oil stockpiles had fallen by 3 million barrels -- a larger figure than anticipated -- demand for products fell.
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