SINGAPORE - Oil prices fell below $75 a barrel Friday after a U.S. weekly petroleum supply snapshot showed an unexpected increase in domestic gasoline stocks. But geopolitical tensions and rising gasoline demand continued to support prices, traders said.
Light, sweet crude for August delivery fell 35 cents to $74.79 a barrel in Asian electronic trading on the New York Mercantile Exchange. The contract slipped 5 cents to settle at $75.14 a barrel Thursday.
Gasoline futures lost 1.35 cents to $2.2455 a gallon while heating oil prices fell 0.66 cent to $2.0550 a gallon.
In its weekly inventory report, the U.S. Department of Energy said the country's supply of …
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