| U.S. oil prices stalled in their climb toward 100 dollars a barrel Wednesday after a government report said that oil inventories fell less than expected last week, while refinery utilization remained flat.
The U.S. Energy Department's Energy Information Administration reported that crude supplies fell by 800,000 barrels during the week ended Nov. 2, half the 1.6 million barrel decline analysts surveyed by Dow Jones Newswires, on average, had expected.
Light, sweet crude for December delivery rose 83 cents to 97.53dollars a barrel on the New York Mercantile Exchange at 11:16 a.m. EDT (1616 GMT).
Earlier, prices rose as high as 98.62 dollars, a new record. |
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