Oil slips as start of US summer driving season fails to lift fuel demand By Reuters – Investing.com

Oil slips as start of US summer driving season fails to lift fuel demand By Reuters – Investing.com

By Jessica Jaganathan

SINGAPORE (Reuters) - Oil prices slid on Thursday as inventory data in the United States, the world's top oil consumer, showed a surge in gasoline stocks that indicates weaker-than-expected fuel demand at the start of summer, the country's peak season for motoring.

futures were down 34 cents, or 0.5%, at $71.88 a barrel by 0108 GMT, while U.S. oil futures declined by 36 cents, or 0.5%, at $69.60 a barrel.