Crude Oil Rises a Second Day on U.S. Gasoline Supply Forecast By Grant Smith Aug. 20 (Bloomberg) -- Crude oil rose for a second day before a weekly U.S. government report on oil stockpiles that may show gasoline supplies shrank in the world's largest energy user. U.S. supplies of gasoline probably fell a fourth week, by 3 million barrels last week from 202.8 million barrels the previous week, according to a Bloomberg survey. Goldman Sachs Group Inc. repeated its forecast that prices will top last month's $147.27 record this year as emerging market demand strains global supplies. ``The forecasts are pointing to a decline of as much as 3 million barrels in gasoline supplies while we remain in the peak driving season,'' said Robert Montefusco, a broker at Sucden (U.K.) Ltd. in London. ``On top of that Goldman are still bullish and some OPEC members are calling for cuts at the next meeting.'' Crude oil for September delivery rose as much as $1.24 a barrel or 1.1 percent to $115.77 a barrel, on the New York Mercantile Exchange, trading for $115.76 at 1:05 p.m. London time.
