April 18, 2007	Wednesday	Rabi-ul-Awwal 29, 1428

LONDON, April 17: World oil prices showed mixed fortunes on Tuesday amid worries about the level of gasoline stocks in the United States, the world’s biggest consumer of energy, traders said.

The price of Brent North Sea crude for June delivery fell 30 cents to $66.95 per barrel in London electronic deals after earlier climbing.

New York's main oil futures contract, light sweet crude for delivery in May, gained 59 cents to $64.20 per barrel in pit trading before the official open of the US market.

“The bullish tone remains intact on continuing concerns that the US stocks of gasoline will be insufficient to cover the peak-demand period during the summer driving season,” Bank of Ireland analyst Paul Harris said.

The US Department of Energy was to release its weekly snapshot of oil stocks on Wednesday, with the market expecting gasoline, or petrol, stocks to have dropped again last week. Motor fuel inventories have already fallen for the past five weeks.

The market is “looking at the overall inventory levels including the gasoline stocks,” CFC Seymour analyst Steve Rowles said on Tuesday.—AFP