Oil futures ended up 1.5% despite the news on gasoline stockpiles, report Christian Schmollinger and Ben Sharples for Bloomberg. Bargain hunters picked up the commodity after the 5.5% decline in oil on Wednesday. Ken Hasegawa, a commodity-derivative sales manager at brokerage Newedge Group commented that “after the sharp decline of yesterday then it’s possible to rebound one or two dollars easily. We’ll remain range-bound around $95 to $110.”
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U.S. Gasoline Fund
Max Chen contributed to this article.