nice close elk .. bring on monday , page-30

may have been posted,

http://www.bloomberg.com/apps/news?pid=newsarchive&sid=aTU8f.d49Ors

Crude oil rose above $81 a barrel in New York after an Energy Department report showed that fuel inventories unexpectedly dropped last week. Oil for November delivery traded recently at $81.21 a barrel, after advancing 1.9 percent in New York.

Stockpiles Slip

Gasoline supplies slipped 41,000 barrels, yesterday's report showed. Stockpiles of distillate fuel, a category that includes heating oil and diesel, fell 1.17 million barrels. Analysts surveyed by Bloomberg News expected the report to show gains. Prices also rose because the dollar retreated

Elk Petroleum Ltd. (ELK AU), a Sydney-based oil and gas explorer, soared 23.5 cents, or 127 percent, to 42 cents. Elk said a University of Wyoming study showed its Grieve field contained 23 million barrels of remaining oil. Further studies will now be undertaken, Elk said in a statement to the exchange.