Oil Futures Fall On US Gasoline Inventory Concerns

By Biman Mukherji Features Dow Jones Newswires

Oil futures reverse overnight gains in Asia on Wednesday, after industry group API said that U.S. gasoline inventories increased last week.

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--On the New York Mercantile Exchange, light sweet crude futures for delivery in October was recently down 0.3% at $47.83 a barrel in the Globex electronic session. October Brent crude on London's ICE Futures also rose 0.3% to $51.72.

--With the driving season coming to an end in the U.S., the gap between supply and demand will likely widen, said Li Li, research director at ICIS China.

Write to Biman Mukherji at biman.mukherji@dowjones.com

(END) Dow Jones Newswires

August 23, 2017 00:05 ET (04:05 GMT)