Oil falls as US gasoline stock draw raises prospect of SPR release By Reuters – Investing.com
Oil falls as US gasoline stock draw raises prospect of SPR release By Reuters – Investing.com
By Sonali Paul
MELBOURNE (Reuters) - Oil prices dropped on Wednesday after U.S. gasoline stocks fell more than expected last week, which could heighten pressure on the Biden administration to release oil from emergency reserves to cap soaring gasoline prices.
U.S. West Texas Intermediate (WTI) crude futures fell 76 cents, or 0.9%, to $80.00 a barrel at 0211 GMT, extending a 12 cent loss from Tuesday.
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