http://www.reuters.com/article/2011/05/25/us-markets-oil-idUSL3E7G601S20110525(Reuters) - Brent crude futures hovered below $113 a barrel on Wednesday as concern about weak gasoline demand ahead of the U.S. driving season and a rebounding U.S. dollar weighed on prices.
Crude oil inventories fell less than expected, renewing fears high prices are cutting into U.S. gasoline consumption, where the start of the driving season will be officially marked by Memorial Day this weekend.
The American Petroleum Institute (API) said crude inventories fell 860,000 barrels for the week ended May 20, lagging expectations of a 1.3 million-barrel draw.
Gasoline stocks also hinted at weakening demand, rising 2.4 million barrels, after analysts had forecast a 300,000-barrel build. <API/S>
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