New York—Crude oil and gasoline stocks fell in the week ended June 16, according to weekly US Energy Information Administration data, but failed to counteract pervasive bearishness in recent weeks that has seen crude futures tumble by 17 since May 23. NYMEX August light sweet crude fell 98 cents to settle at $42.53/b, while ICE Brent settled $1.20 lower at $44.82/b. Refined products rounded out a day of losses for the oil complex, with NYMEX July RBOB shedding 1.35 cents to settle at $1.4105/gal and ULSD falling 3.01 cents to settle at $1.3648/gal.
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