LONDON, July 1 - European gasoline prices dropped
by almost 2 percent on Wednesday towards $630 a tonne, after a
larger-than-expected rise in U.S. stocks of the motor fuel
dampened export expectations. The U.S. Energy Information Administration reported gasoline
stocks rose by 2.3 million barrels to 211.2 million barrels last
week ahead of the July 4 holiday weekend in Europe's key export
market. "The markets came off after stocks rose in the U.S. again,"
one broker said. "Demand doesn't look very strong there."
by almost 2 percent on Wednesday towards $630 a tonne, after a
larger-than-expected rise in U.S. stocks of the motor fuel
dampened export expectations. The U.S. Energy Information Administration reported gasoline
stocks rose by 2.3 million barrels to 211.2 million barrels last
week ahead of the July 4 holiday weekend in Europe's key export
market. "The markets came off after stocks rose in the U.S. again,"
one broker said. "Demand doesn't look very strong there."
