Oil Falls On Lackluster U.S. Summer Gasoline Demand

Author : Dhowcruise
Publish Date : 2022-07-28 00:00:00


Oil Falls On Lackluster U.S. Summer Gasoline Demand

Oil prices slipped on Wednesday, after U.S. government data showed lower gasoline demand during the peak summer driving season and as interest rate hikes by central banks to fight inflation fed fears the economy could slow, cutting energy demand. Prices pared losses during the session after TC Energy said the Keystone pipeline, one of Canada's major oil export arteries, was operating at reduced rates for a third day. Repairs continued on a third-party power facility in South Dakota, prompting concerns about tighter supplies. Brent crude prices for September fell 43 cents to settle at $106.92 a barrel. U.S. West Texas Intermediate (WTI) crude for August fell $1.96 to settle at $102.26 a barrel. The WTI contract expires on Wednesday. The more active September WTI contract settled at $99.88 a barrel, down 86 cents. U.S. gasoline inventories rose 3.5 million barrels last week, government data showed, far exceeding analysts' forecasts in a Reuters poll for a 71,000-barrel rise. [EIA/S] Product supplied of gasoline - a proxy for demand - was about 8.5 million barrels per day, or about 7.6% lower than the same time a year ago, the data showed.

Oil prices slipped on Wednesday, after U.S. government data showed lower gasoline demand during the peak summer driving season and as interest rate hikes by central banks to fight inflation fed fears the economy could slow, cutting energy demand. Prices pared losses during the session after TC Energy said the Keystone pipeline, one of Canada's major oil export arteries, was operating at reduced rates for a third day. Repairs continued on a third-party power facility in South Dakota, prompting concerns about tighter supplies. Brent crude prices for September fell 43 cents to settle at $106.92 a barrel. U.S. West Texas Intermediate (WTI) crude for August fell $1.96 to settle at $102.26 a barrel. The WTI contract expires on Wednesday. The more active September WTI contract settled at $99.88 a barrel, down 86 cents. U.S. gasoline inventories rose 3.5 million barrels last week, government data showed, far exceeding analysts' forecasts in a Reuters poll for a 71,000-barrel rise. [EIA/S] Product supplied of gasoline - a proxy for demand - was about 8.5 million barrels per day, or about 7.6% lower than the same time a year ago, the data showed.Oil prices slipped on Wednesday, after U.S. government data showed lower gasoline demand during the peak summer driving season and as interest rate hikes by central banks to fight inflation fed fears the economy could slow, cutting energy demand. Prices pared losses during the session after TC Energy said the Keystone pipeline, one of Canada's major oil export arteries, was operating at reduced rates for a third day. Repairs continued on a third-party power facility in South Dakota, prompting concerns about tighter supplies. Brent crude prices for September fell 43 cents to settle at $106.92 a barrel. U.S. West Texas Intermediate (WTI) crude for August fell $1.96 to settle at $102.26 a barrel. The WTI contract expires on Wednesday. The more active September WTI contract settled at $99.88 a barrel, down 86 cents. U.S. gasoline inventories rose 3.5 million barrels last week, government data showed, far exceeding analysts' forecasts in a Reuters poll for a 71,000-barrel rise. [EIA/S] Product supplied of gasoline - a proxy for demand - was about 8.5 million barrels per day, or about 7.6% lower than the same time a year ago, the data showed.Oil prices slipped on Wednesday, after U.S. government data showed lower gasoline demand during the peak summer driving season and as interest rate hikes by central banks to fight inflation fed fears the economy could slow, cutting energy demand. Prices pared losses during the session after TC Energy said the Keystone pipeline, one of Canada's major oil export arteries, was operating at reduced rates for a third day. Repairs continued on a third-party power facility in South Dakota, prompting concerns about tighter supplies. Brent crude prices for September fell 43 cents to settle at $106.92 a barrel. U.S. West Texas Intermediate (WTI) crude for August fell $1.96 to settle at $102.26 a barrel. The WTI contract expires on Wednesday. The more active September WTI contract settled at $99.88 a barrel, down 86 cents. U.S. gasoline inventories rose 3.5 million barrels last week, government data showed, far exceeding analysts' forecasts in a Reuters poll for a 71,000-barrel rise. [EIA/S] Product supplied of gasoline - a proxy for demand - was about 8.5 million barrels per day, or about 7.6% lower than the same time a year ago, the data showed.Oil prices slipped on Wednesday, after U.S. government data showed lower gasoline demand during the peak summer driving season and as interest rate hikes by central banks to fight inflation fed fears the economy could slow, cutting energy demand. Prices pared losses during the session after TC Energy said the Keystone pipeline, one of Canada's major oil export arteries, was operating at reduced rates for a third day. Repairs continued on a third-party power facility in South Dakota, prompting concerns about tighter supplies. Brent crude prices for September fell 43 cents to settle at $106.92 a barrel. U.S. West Texas Intermediate (WTI) crude for August fell $1.96 to settle at $102.26 a barrel. The WTI contract expires on Wednesday. The more active September WTI contract settled at $99.88 a barrel, down 86 cents. U.S. gasoline inventories rose 3.5 million barrels last week, government data showed, far exceeding analysts' forecasts in a Reuters poll for a 71,000-barrel rise. [EIA/S] Product supplied of gasoline - a proxy for demand - was about 8.5 million barrels per day, or about 7.6% lower than the same time a year ago, the data showed.Oil prices slipped on Wednesday, after U.S. government data showed lower gasoline demand during the peak summer driving season and as interest rate hikes by central banks to fight inflation fed fears the economy could slow, cutting energy demand. Prices pared losses during the session after TC Energy said the Keystone pipeline, one of Canada's major oil export arteries, was operating at reduced rates for a third day. Repairs continued on a third-party power facility in South Dakota, prompting concerns about tighter supplies. Brent crude prices for September fell 43 cents to settle at $106.92 a barrel. U.S. West Texas Intermediate (WTI) crude for August fell $1.96 to settle at $102.26 a barrel. The WTI contract expires on Wednesday. The more active September WTI contract settled at $99.88 a barrel, down 86 cents. U.S. gasoline inventories rose 3.5 million barrels last week, government data showed, far exceeding analysts' forecasts in a Reuters poll for a 71,000-barrel rise. [EIA/S] Product supplied of gasoline - a proxy for demand - was about 8.5 million barrels per day, or about 7.6% lower than the same time a year ago, the data showed.Oil prices slipped on Wednesday, after U.S. government data showed lower gasoline demand during the peak summer driving season and as interest rate hikes by central banks to fight inflation fed fears the economy could slow, cutting energy demand. Prices pared losses during the session after TC Energy said the Keystone pipeline, one of Canada's major oil export arteries, was operating at reduced rates for a third day. Repairs continued on a third-party power facility in South Dakota, prompting concerns about tighter supplies. Brent crude prices for September fell 43 cents to settle at $106.92 a barrel. U.S. West Texas Intermediate (WTI) crude for August fell $1.96 to settle at $102.26 a barrel. The WTI contract expires on Wednesday. The more active September WTI contract settled at $99.88 a barrel, down 86 cents. U.S. gasoline inventories rose 3.5 million barrels last week, government data showed, far exceeding analysts' forecasts in a Reuters poll for a 71,000-barrel rise. [EIA/S] Product supplied of gasoline - a proxy for demand - was about 8.5 million barrels per day, or about 7.6% lower than the same time a year ago, the data showed.Oil prices slipped on Wednesday, after U.S. government data showed lower gasoline demand during the peak summer driving season and as interest rate hikes by central banks to fight inflation fed fears the economy could slow, cutting energy demand. Prices pared losses during the session after TC Energy said the Keystone pipeline, one of Canada's major oil export arteries, was operating at reduced rates for a third day. Repairs continued on a third-party power facility in South Dakota, prompting concerns about tighter supplies. Brent crude prices for September fell 43 cents to settle at $106.92 a barrel. U.S. West Texas Intermediate (WTI) crude for August fell $1.96 to settle at $102.26 a barrel. The WTI contract expires on Wednesday. The more active September WTI contract settled at $99.88 a barrel, down 86 cents. U.S. gasoline inventories rose 3.5 million barrels last week, government data showed, far exceeding analysts' forecasts in a Reuters poll for a 71,000-barrel rise. [EIA/S] Product supplied of gasoline - a proxy for demand - was about 8.5 million barrels per day, or about 7.6% lower than the same time a year ago, the data showed.Oil prices slipped on Wednesday, after U.S. government data showed lower gasoline demand during the peak summer driving season and as interest rate hikes by central banks to fight inflation fed fears the economy could slow, cutting energy demand. Prices pared losses during the session after TC Energy said the Keystone pipeline, one of Canada's major oil export arteries, was operating at reduced rates for a third day. Repairs continued on a third-party power facility in South Dakota, prompting concerns about tighter supplies. Brent crude prices for September fell 43 cents to settle at $106.92 a barrel. U.S. West Texas Intermediate (WTI) crude for August fell $1.96 to settle at $102.26 a barrel. The WTI contract expires on Wednesday. The more active September WTI contract settled at $99.88 a barrel, down 86 cents. U.S. gasoline inventories rose 3.5 million barrels last week, government data showed, far exceeding analysts' forecasts in a Reuters poll for a 71,000-barrel rise. [EIA/S] Product supplied of gasoline - a proxy for demand - was about 8.5 million barrels per day, or about 7.6% lower than the same time a year ago, the data showed.Oil prices slipped on Wednesday, after U.S. government data showed lower gasoline demand during the peak summer driving season and as interest rate hikes by central banks to fight inflation fed fears the economy could slow, cutting energy demand. Prices pared losses during the session after TC Energy said the Keystone pipeline, one of Canada's major oil export arteries, was operating at reduced rates for a third day. Repairs continued on a third-party power facility in South Dakota, prompting concerns about tighter supplies. Brent crude prices for September fell 43 cents to settle at $106.92 a barrel. U.S. West Texas Intermediate (WTI) crude for August fell $1.96 to settle at $102.26 a barrel. The WTI contract expires on Wednesday. The more active September WTI contract settled at $99.88 a barrel, down 86 cents. U.S. gasoline inventories rose 3.5 million barrels last week, government data showed, far exceeding analysts' forecasts in a Reuters poll for a 71,000-barrel rise. [EIA/S] Product supplied of gasoline - a proxy for demand - was about 8.5 million barrels per day, or about 7.6% lower than the same time a year ago, the data showed.Oil prices slipped on Wednesday, after U.S. government data showed lower gasoline demand during the peak summer driving season and as interest rate hikes by central banks to fight inflation fed fears the economy could slow, cutting energy demand. Prices pared losses during the session after TC Energy said the Keystone pipeline, one of Canada's major oil export arteries,



Category :travel

Viral: Samantha Ruth Prabhu With "Sweetest Ever" Ranveer Singh

Viral: Samantha Ruth Prabhu With "Sweetest Ever" Ranveer Singh

- and Ranveer Singh are all praise for each other as they collaborate on a project. On Sunday, the actress shared


Gen Zs New Fascination With Vintage Flip Phones Brings Them Back Into Focus

Gen Zs New Fascination With Vintage Flip Phones Brings Them Back Into Focus

- Gen Z said that the lower-tech telephone keeps them away from social media, dating apps and other potential pitfalls.


Ex-Army Chief, Veterans March With Rahul Gandhi During Bharat Jodo Yatra

Ex-Army Chief, Veterans March With Rahul Gandhi During Bharat Jodo Yatra

- Scores of people joined the Yatra as it passed through Karnal in the morning, which is also the home constituency of


Balenciaga Apologises After Backlash Over Ad That Featured Children With Bondage Teddy Bears

Balenciaga Apologises After Backlash Over Ad That Featured Children With Bondage Teddy Bears

- Luxury fashion brand Balenciaga has issued an apology after backlash over a recent ad campaign, which featured children holding teddy