Oil Pares Gains; U.S. Supplies of Gasoline Expected to Rise

Crude oil pared gains on speculation the U.S. would have enough gasoline to meet demand as the summer driving season got under way.

Today’s petroleum inventory report from the Energy Department will probably show U.S. gasoline supplies rose by 1.6 million barrels in the week through June 1, according to a Bloomberg News survey of 11 analysts. Oil supplies probably rose 125,000 barrels, the sixth gain in seven weeks.