Gasoline Futures Retreat as Jobless Claims, Inventories Rise
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Gasoline declined as first-time jobless claims rose, indicating a slow recovery for the labor market and fuel demand, and as motor fuel supplies increased.
Futures sank a third day this week as the Labor Department reported that applications for jobless benefits rose by 51,000 to 454,000 last week. The Energy Department reported yesterday that gasoline stockpiles were the highest in almost 11 months.