USO - Oil Prices Fall As Gasoline Stocks Continue To Build: Average Pump Price Now $3.08 | Benzinga
Oil prices fell on Wednesday after U.S. inventory data showed gasoline and distillate stocks grew strongly for a second week, while crude stocks also rose.
In early afternoon trade, Nymex WTI, which had been more than 1% higher earlier, fell back to $72.30 a barrel to leave it flat on the day. Brent crude, which had also been around 1% higher, fell back to $77.53 a barrel, leaving it down by 0.1%.
The exchange-traded fund which tracks the price of U.S. light-sweet crude — the United States Oil (NYSE:USO) — fell 0.1% to $67.35. It had earlier traded as high as $68.68.
Also Read: Oil Prices Fall As Demand Concerns Driven By Massive US Gasoline Stockpile Increase
Gasoline And Distillates Stocks Build
Weekly inventory ...