U.S. Gasoline Demand Drops  

U.S. gasoline demand is weakening, prompting refineries to additionally cut capacity utilization and crude processing in a sign that resurging coronavirus cases are derailing fuel demand recovery. According to this week’s petroleum inventory report from the EIA, gasoline stocks in the United States increased by 1.9 million barrels for the week to October 16. Gasoline production last week averaged 8.9 million bpd, compared with 9.2 million bpd a week earlier. U.S. refinery runs averaged 13 million barrels daily, compared with 13.6 million…