West Texas Intermediate crude fell, heading for its biggest weekly drop in more than a month, after rising U.S. durable goods orders bolstered concern that the Federal Reserve will scale back stimulus efforts.
Gasoline fell as equities declined and on speculation that demand will drop after the U.S. Memorial Day Holiday.
West Texas Intermediate headed for its biggest weekly drop in more than a month amid signs of rising U.S. oil inventories and a global economic slowdown.
Natural gas futures slid from a three-week high on forecasts of milder weather that would reduce consumption of the fuel by power plants.
Natural gas futures may climb next week for the third consecutive time on forecasts for hotter weather that signal increased demand for the power-plant fuel, a Bloomberg survey showed.
West Texas Intermediate crude fell for a fourth day, extending the biggest weekly drop in more than a month, amid signs of rising U.S. fuel supplies and a global economic slowdown.
Ethanol’s discount to gasoline widened a day after a government report showed production of the biofuel climbed to the highest level in 11 months.
U.S. Midwest gasoline tumbled for a fifth day, reaching the narrowest premium to New York futures in two weeks, on speculation that demand is weakening as regional shortages ease.
Spot gasoline in Los Angeles declined against futures for the second straight day after a state report showed stockpiles of the motor fuel jumped last week to the highest level in more than a month.
Gulf Coast crude oils strengthened on the spot market during the three-day rollover period characterized by below-normal volume and erratic pricing.