Oil Prices Hold at $45

From Reuters:
“The U.S. Energy Information Administration said commercial crude oil stocks fell last week by 1.7 million barrels to 291.3 million, hitting the lowest level since March.

Crude stocks fell as refineries worked at 96 percent of capacity, eating up feedstocks at a rate of 16.05 million barrels per day (bpd).

“We’re seeing runs at unusually strong pace for this time of year, chewing into crude supplies,” said Jim Ritterbusch, president of Ritterbusch and Associates.”

http://www.reuters.com/newsArticle.jhtml;jsessionid=IZ1IYLUD2IK5MCRBAEOCFFA?type=businessNews&storyID=6068170