Crude Oil Falls After Total U.S. Petroleum Stockpiles Increase
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Crude oil fell after a government report showed that U.S. petroleum inventories climbed to the highest level since at least 1990.
Combined oil and fuel stockpiles rose 196,000 barrels to 1.14 billion last week, according to the Energy Department. Supplies of crude oil and distillate fuel, a category that includes heating oil and diesel, unexpectedly dropped, sending the market to a three-week high after the report’s release at 11 a.m. in Washington.