Oil futures reverse overnight gains in Asia on Wednesday, after industry group API said that U.S. gasoline inventories increased last week.
--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.
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(END) Dow Jones Newswires
August 23, 2017 00:05 ET (04:05 GMT)