Oil jumps $3 after US gasoline supplies drop
Oil prices jumped more than $3 a barrel Wednesday, halting a three-day slide after the government reported a bigger-than-expected drop in U.S. gasoline supplies. But more signs of dwindling U.S. demand cast doubt on the rally's longevity. Light, sweet crude for September delivery rose $3.39 to $116.40 a barrel on the New York Mercantile Exchange, after earlier falling as low as $112.87 and after dropping about $7 in the last three sessions. Oil's advance has for the time being stopped a monthlong slide that took crude $35 below its July 11 high ...