Gasoline inventories rose 2.1 million barrels last week: EIA Refinery utilization increased, while gasoline demand slipped Oil slipped to the lowest since November as weaker demand at the start of the summer driving season led to another increase in gasoline stockpiles. Futures closed 3.7 percent down in New York. Gasoline inventories rose 2.1 million barrels last week, and diesel supplies also increased, according to the Energy Information Administration. Crude inventories fell by 1.66 million barrels, less than the 2.45 million barrels that analysts surveyed by Bloomberg had expected. Adding to the market pessimism, the International Energy Agency said new production from OPEC’s rivals will be more than enough to meet growth in demand next year, overwhelming the oil group’s efforts to reduce supplies. “A gasoline inventory build is the last thing the bulls need,” John Kilduff, a partner at Again Capital LLC, a New York-based hedge fund, said by […]