The following is a selection of the most important news affecting the oil market.
U.S. fuel consumption increased in March to the highest level for the month in three years, the American Petroleum Institute said.
Following is the text of the weekly Petroleum Status Report from the U.S. Department of Energy:
Velocys Plc, partly funded by Russian billionaire Roman Abramovich, will help make jet fuel from landfill waste at the site of the Coryton oil refinery, formerly owned by BP Plc, in east London.
Chinese data showing the country became a net fuel exporter for the first time in four years may be due to the exclusion of one type of oil product, according to a Shanghai-based commodities researcher.
Gasoline futures reached the highest price in a month after an industry group reported that U.S. inventories of the motor fuel declined.
Gasoline futures jumped to a three- week high on speculation that U.S. inventories of the motor fuel declined last week.