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Rise in US gasoline reserves are still Tap Oil Prices

 

Friday, June 26th, 2015

 

US crude oil futures prices fell moderately in the Asian trading session on Friday, pressured by fears of oversupply by the US refined petroleum products and the impact of oil demand against the risk of a Greek exit from the Euro zone.

 

US petrol reserves of oil rose as much as 680,000 barrels last week, more than twice as much as forecast in a Reuters survey, while the distilled oil reserves jumped 1.8 million barrels, the data shown by the US Energy Information Administration on Wednesday.

 

US crude prices for the contract in August fell 7 cents to $ 59.63 a barrel at 10:04 GMT, after ending the session down 57 cents.

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