Oil Declines After Unexpected Supply Gain, Bernanke’s Outlook

Crude oil fell after the government reported an unexpected increase in U.S. supplies and Federal Reserve Chairman Ben S. Bernanke said the economic outlook remains “unusually uncertain.”

Inventories climbed 360,000 barrels to 353.5 million in the week ended July 16, an Energy Department report showed. Stockpiles of gasoline and distillate fuel, a category that includes heating oil and diesel, also increased. The price dropped 39 cents after Bernanke began speaking to the Senate Banking Committee.