West Texas Intermediate crude fell for a second day as purchases of new U.S. homes missed forecasts, raising concern that fuel demand may slow in the world’s leading consumer of oil.
Natural gas futures retreated from a two-week high in New York as government data may show the first stockpile gain this year.
Natural gas futures fell after a government report showed that U.S. stockpiles dropped by less than forecast last week.
West Texas Intermediate crude surged the most in five weeks as U.S. gasoline demand rose to the highest level since July, trimming fuel inventories.
Natural gas futures tumbled in New York, heading for the biggest weekly decline since June, after a government report showed an unexpected gain in U.S. stockpiles as mild weather reduced demand.
West Texas Intermediate crude gained as inventories at Cushing, Oklahoma, decreased for an eighth week and demand for gasoline reached a three-month high. Brent rose for the fourth time in five days.
Natural gas futures fell in New York after a government report showed that a U.S. stockpile drop was close to analyst estimates.
Natural gas futures in New York climbed the most in two weeks after a government report showed U.S. stockpiles fell more than expected last week.
Natural gas futures in New York climbed for the first time in five days after a government report showed that U.S. stockpiles were at a deficit to the five-year average for the first time in 18 months.