Oil and Gas Prices Drop as Demand Worries Weigh on Energy Markets

U.S. oil prices and energy stocks fell Wednesday as gasoline stockpiles swelled despite a drop in crude inventories.

Gasoline futures sank to the lowest level since January, suggesting further declines in retail gas prices.

ExxonMobil, Chevron and other energy stocks followed oil prices lower on Wednesday.

The outlook for oil demand remains uncertain with China's weak economy and high inflation.

Valero and other refiners declined as the spread between crude and gasoline prices narrows.