Oil prices plunge on spike in U.S. gasoline inventories

NEW YORK, June 14 (Xinhua) -- Oil prices held big losses on Wednesday as weekly data showed an unexpectedly increase in U.S. gasoline inventories.

The West Texas Intermediate for July delivery lost 1.73 U.S. dollars to settle at 44.73 dollars a barrel on the New York Mercantile Exchange, while Brent crude for August delivery shed 1.72 dollars to close at 47.00 dollars a barrel on the London ICE Futures Exchange. Enditem