CNBC: Oil falls below US$77 in Asia as US gasoline and distillate supplies jump
SINGAPORE - Oil prices fell below US$77 a barrel in Asia on signs gasoline and distillate demand in the U.S. remain sluggish.
Benchmark crude for March delivery was down 54 cents to $76.79 a barrel at late Thursday afternoon Singapore time in electronic trading on the New York Mercantile Exchange. The contract added 32 cents to settle at $77.33 on Wednesday.
In other Nymex trading in March contracts, heating oil fell 1.44 cents to $1.9923 a gallon, and gasoline dropped 0.99 cent to $1.9972 a gallon. Natural gas gained was steady at $5.38 per 1,000 cubic feet.
In London, Brent crude was down 54 cents at $75.73 on the ICE futures exchange.
