Oil fell more than 2 percent

Abandoning early gains after a report showed that US gasoline demand fell last week.

And futures prices turned downward after government data showed a decline in demand for gasoline from the previous week, prompting dealers to ignore US crude stockpile data that was calling for pushing prices up.

Crude inventories fell 9.4 million barrels in the latest week to 498.4 million barrels, a decline much larger than a drop of 1.9 million barrels, which analysts had expected in a Reuters poll.

The data deals with a period during which Hurricane "Laura" caused the closure of production and refining facilities.

Demand for gasoline fell to 8.78 million barrels per day over the course of the week from 9.16 million barrels per day in the previous week, according to the report.

Brent crude fell $ 1.15, equivalent to 2.5 percent, to determine the settlement price at $ 44.43 a barrel, after rising for two days.

U.S. West Texas Intermediate crude closed down $ 1.25, or 2.9 percent, at $ 41.51 a barrel.

Source: Routers

By:Nadeemy Haded

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