By Henning Gloystein
SINGAPORE, Feb 25 (Reuters) - U.S. crude oil futures held
steady in early trading on Thursday as strong demand for
gasoline was offset by a new record in crude stockpiles.
U.S. West Texas Intermediate (WTI) crude futures CLc1 were
trading at $32.13 per barrel at 0047 GMT on Thursday, virtually
unchanged from their last settlement.
On Wednesday, prices picked up in late trading following the
release of strong gasoline demand data.
"Crude oil prices recovered lost ground overnight... Strong
gasoline demand led to a stock decline," ANZ said on Thursday.
U.S. gasoline demand stood at 9.06 million barrels a day on
Feb. 19 compared with 8.6 million barrels per day on Jan. 22.
Despite this, overall U.S. crude stockpiles rose 3.5 million
barrels last week to reach an all-time peak above 507 million
barrels, weighing on crude futures.