SINGAPORE: Oil fell on Wednesday after an industry report showed U.S. gasoline stocks dropped more than expected last week, potentially heightening pressure on the Biden administration to release oil from emergency reserves to cap soaring fuel prices.
U.S. West Texas Intermediate (WTI) crude futures fell 69 cents, or 0.9%, to $80.07 a barrel at 0635 GMT, extending a 12 cent loss from Tuesday.
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