Crude Edges Up as Fuel Supply Drop Outweighs Rising Crude Stocks
- U.S. gasoline stockpiles drop by the most since May: EIA
- American oil inventories expand as foreign demand slackens
This article is for subscribers only.
Crude rose as investors assessed conflicting supply-and-demand signals in the world’s biggest economy.
Futures in New York wavered between gains and losses during the session before settling 1 percent higher on Wednesday. Gasoline held in U.S. storage tanks dropped by the most since May and fuel demand increased, according to data from the Energy Information Administration. Those factors overshadowed the biggest increase in American crude inventories since April.