Crude oil slipped as US gasoline stocks built up clouded demand outlook
Crude oil slipped as US gasoline stocks built up clouded demand outlook
International benchmarks for crude oil slipped on Wednesday, 29 June 2022, ending the three consecutive sessions of gaining after the EIA reported an increase of 2.6 million barrels in gasoline stocks last week in the US, sparking fear that slow economic growth would hamper demand.
Brent fell $1.72 or 1.5% to settle at $116.26/barrel.
WTI dropped $1.98 or 1.8% to close at $109.78/barrel.