Oil prices rise on U.S. gasoline demand

Source: Xinhua| 2017-08-03 04:36:52|Editor: yan
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NEW YORK, Aug. 2 (Xinhua) -- Oil prices rose on Wednesday as data showed surging U.S. fuel demand.

U.S. crude inventories fell 1.5 million barrels in the July 28 week to 481.9 million, 2.0 percent below the level a year ago, according to data released by the Energy Information Administration on Wednesday.

On the demand side, data showed the gasoline demand stood at a record high of 9.842 million barrels per day.

The West Texas Intermediate for September Delivery gained 0.43 U.S. dollar to settle at 49.59 dollars a barrel on the New York Mercantile Exchange, while Brent crude for October delivery added 0.58 dollar to close at 52.36 dollars a barrel on the London ICE Futures Exchange.

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