Gasoline Falls as Crude Slips While Summer Fuel Demand Wanes
This article is for subscribers only.
Gasoline slid as crude retreated after British lawmakers refused to join the U.S. in a military strike against Syria and as the end of the U.S. summer driving season approaches.
Futures sank 1.6 percent as the U.S. lost Britain’s support yesterday in acting against Syria and its suspected use of chemical weapons, lessening concern of an imminent strike that might embroil the Middle East and disrupt oil supplies. U.S. gasoline demand dipped to a five-week low in the seven days ended Aug. 23 and in June was the lowest for that month since 2001, government data show.