Shares of energy producers fell as oil futures appeared stuck below $50 a barrel. Oil futures touched the psychologically significant level on Monday but the rally stalled there and futures fell back a little Thursday.
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Both bulls and bears had something to point to in the Energy Information Administration's inventory report, where the drawdown in oil stocks was smaller than anticipated but measures of gasoline demand -- such as refinery capacity utilization -- were strong.
"A strong increase in demand was enough to appease the bullish investors," said ANZ Bank, as reported earlier.
(-By Rob Curran, email@example.com)
(END) Dow Jones Newswires
August 03, 2017 16:19 ET (20:19 GMT)