Oil declines as traders assess weak gasoline demand, gas flows

Oil prices decrease as investors assess signs of limited US gasoline demand, while Russia resumes deliveries of gas via central European pipeline.

Photo: Frederic J. Brown/AFP/Ritzau Scanpix

Oil declined as investors assessed signs of lackluster US gasoline demand and Russia resumed flows of gas along a key European pipeline, easing for now concerns about a regional energy crunch.

West Texas Intermediate fell toward USD 99 a barrel after losing about 1% on Wednesday. A US report showed gasoline inventories rose more than expected last week, while a four-week average indicated high prices crimped use to just above the same time two years ago, and below every other year since 2000.

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