ShippingWatch

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.

Already a subscriber? Log in.

Read the whole article

Get access for 14 days for free.
No credit card is needed, and you will not be automatically signed up for a paid subscription after the free trial.

  • Access all locked articles
  • Receive our daily newsletters
  • Access our app
An error has occured. Please try again later.

Get full access for you and your coworkers.

Start a free company trial today

More from ShippingWatch

Reefer rates to peak in fall season, followed by slow decline

Rates on refrigerated containers, or reefers, have increased by 50% in the second quarter compared to the same period in 2021, with growth set to continue in the third quarter. 2023, however, will see rates slowly declining, forecasts consultancy Drewry.

Further reading

Related articles

Latest news

See all jobs