Oil Falls With Growing U.S. Crude Supplies and Fuel Demand Fears
- Domestic oil inventories rose for first time since mid-July
- Gauge of gasoline demand falls for first time in five weeks
Mobile offshore drilling units stand in the Port of Cromarty Firth in Cromarty, U.K.
Photographer: Jason Alden/BloombergThis article is for subscribers only.
Oil resumed its trek downward after U.S. government data showed growing domestic crude supplies and wavering gasoline demand.
Futures in New York fell toward $37 a barrel after an Energy Information Administration report showed domestic crude stockpiles increased for the first time since mid-July. Inventories at the Cushing, Oklahoma, storage hub rose to the highest since May and crude production edged up.