Wednesday, 22 May 2013 13:54
Posted by Shoaib-ur-Rehman Siddiqui
LONDON: Brent crude oil dropped towards $103 per barrel on Wednesday after data showing a surprise jump in US gasoline stockpiles sparked worries that summer demand in the world's top oil consumer could be weaker than expected.The American Petroleum Institute said late on Tuesday US gasoline inventories rose by 3 million barrels last week, suggesting the US domestic fuel market would be well supplied during the peak driving season.Investors awaited oil inventory figures from the ...