Oil surges above 119 U.S. dollar on gasoline supply drop

8/21/2008 9:50:18 PM   Source:chinaview.cn    Author:    [Font Size:Bigger Middle Smaller]

NEW YORK, Aug. 21 (Xinhua) -- Crude oil surged back above 119 U.S. dollars a barrel Thursday morning on the larger-than-expected drop in U.S. gasoline inventory.

Light, sweet crude for October delivery rallied 3.76 dollars to119.32 dollars a barrel as of 09:41 EST (1341 GMT) on the New York Mercantile Exchange.

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