EghtesadOnline: Gasoline in New York jumped the most in almost eight years, and its premium to crude prices soared 60 percent after an explosion and fire in Alabama shut the largest fuel pipeline in the U.S., killing one person and injuring more. Traders rushed to book cargoes from Europe.

EghtesadOnline: Oil prices fell on Wednesday, weighed down by concerns of oversupply as Libyan output improves and as U.S. gasoline inventories rose despite the peak summer driving season.