Tokyo — Oil prices fell on Thursday, extending losses from the previous session after official data showed US crude and gasoline stocks rose against expectations and production hit a record.
US West Texas Intermediate crude fell 21 cents, or 0.4%, to $57.90, after falling 0.5% in the previous session. More bearish was a 5.1-million-barrel rise in gasoline stocks, compared with forecasts for a 1.2-million-barrel gain. “The stock data overshadowed other supply-side issues and a general pick-up in sentiment regarding the US-China trade deal,” ANZ Research said in a note.
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