Crude Falls After Industry Report Shows Higher U.S. Oil, Gasoline Supplies
Aug. 11 (Bloomberg) -- Simon Wardell, energy research manager at IHS Global Insight, talks about the outlook for oil prices and demand after the International Energy Agency's monthly report cited “significant downside risks” to consumption. He speaks with Andrea Catherwood on Bloomberg Television's "The Pulse." (Source: Bloomberg)
Crude oil futures pared losses after the U.S. Energy Department said stockpiles declined 818,000 barrels.
Crude oil for September delivery fell $1.29, or 1.7 percent, to $74.48 a barrel at 10:32 a.m. on the New York Mercantile Exchange. Oil traded at $74.08 before the release of the report at 10:30 a.m. in Washington.
To contact the reporters on this story: Mark Shenk in New York at mshenk1@bloomberg.net
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