Crude Oil Rises a Second Day on Lower U.S. Gasoline Supplies

Aug. 14 -- Crude oil rose for a second day after a U.S. Energy Department report yesterday showed a bigger- than-forecast decline in inventories of gasoline as refiners shut units and imports fell.
Gasoline supplies dropped 6.39 million barrels to 202.8 million barrels last week, the biggest decline since October 2002, when tropical storms disrupted Gulf of Mexico output.
``The drop in gasoline inventories has boosted prices somewhat,'' said Eliane Tanner, an analyst at Credit Suisse Group in Zurich. ``Prices are at more sustainable levels so we shouldn't see much more of a correction lower.'' ...