The price of oil gyrated on Thursday after the U.S. government released data that showed a growing domestic supply of gasoline and other fuels, but also rising demand.
By midday, July light, sweet crude futures traded 45 cents lower at $54.15 on the New York Mercantile Exchange, where prices had risen as high as $55.40 earlier in the day. Gasoline futures declined by 1.42 cent to $1.53 per gallon on Nymex. In London, Brent crude was down 35 cents at $52.92 on the International Petroleum Exchange.
