Oil Futures Maintain Post-API Decline
By Biman Mukherji
--Oil futures remained modestly lower in midday Asian trading Wednesday in the wake of a jump in U.S. gasoline inventories last week.
--January light, sweet crude on the New York Mercantile Exchange was recently down 0.4% at $57.41 a barrel in the Globex trading session. February Brent fell 0.4% to $62.61 and January gasoline was off 1% at $1.7011 per gallon.
--While the weekly U.S. inventory reading from the American Petroleum Institute showed a bigger drop in oil than is expected from Wednesday's government report, gasoline stockpiles jumped much more than that release is anticipated to show.
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(END) Dow Jones Newswires
December 05, 2017 23:42 ET (04:42 GMT)Copyright (c) 2017 Dow Jones & Company, Inc.