Oil shed its gains after a bullish crude inventory report was tempered by an unseasonal slowdown in gasoline demand.
West Texas Intermediate slipped under $110 a barrel after rising as high as $114.05 a barrel during the session. A government report showed that US crude stocks fell as fuelmakers increased runs amid historically high refining margins. Meanwhile, gasoline demand on a four-week rolling average fell to the lowest seasonal level since 2014, with the exception of 2020.
