Ultra-low-sulfur diesel fell as a slowdown in China’s manufacturing sent oil tumbling and raised concern that global demand for distillates will decline.
West Texas Intermediate oil fell the most in three weeks as a government report showed U.S. gasoline supplies unexpectedly gained and crude stockpiles declined less than expected.
Natural gas futures gained for a third day in New York as forecasts for hotter-than-normal weather signaled increased demand from power plants to run air conditioners.
Gasoline fell on speculation that the deadly tornado near Oklahoma City may not have affected refinery operations in the area.
West Texas Intermediate crude rose on speculation that central banks will bolster stimulus after more Americans than projected filed for unemployment benefits and U.S. consumer prices decreased.
Natural gas futures rose for a second day in New York as forecasts for cool Northeastern weather and a burst of heat in the West signaled higher demand for the fuel.
West Texas Intermediate oil fell for a third day as China’s crude processing reached the lowest level in eight months in April and OPEC boosted output. Brent crude’s premium to WTI narrowed to a 27-month low.
Ultra-low-sulfur diesel fell as the dollar gained, reducing the investment appeal of commodities, and as U.S. distillate stockpiles reached a seven-week high.
Natural gas futures declined in New York before a report that may show a larger-than-average stockpile gain.
West Texas Intermediate crude fell for the first time in four days before government data that may show U.S. stockpiles rose last week from an 82-year high.