Oil dips as gasoline build offsets big U.S. crude draw

[WorldNews]

View attachment 26353​

Oil prices fell almost 2 percent on Wednesday after a huge drawdown in U.S. crude stockpiles was offset by a larger-than-expected build in gasoline and distillates, which include diesel. Crude inventories fell 5.5 million barrels in the week to Aug. 21, the biggest one-week decline since early June, according to U.S. government data that countered a Reuters poll of analysts calling a rise of 1 million barrels. Gasoline stocks also rose, by 1.7 million barrels versus forecasts for a 1.3 million-barrel drop, the data from the Energy Information Administration (EIA) showed.

Continue reading...