Oil falls after US oil inventories rise more than expected

Oil prices fell sharply today after US crude inventories rose more than expected, despite the fact that gasoline stocks fell to their lowest level in four years in the world's largest oil consumer. Brent crude futures fell $2.43, or 2.9%, to $82.29 a barrel, and US West Texas Intermediate crude futures fell $2.75, or 3.3%, to $81.16 a barrel.

The data showed that crude oil stocks in the United States rose by 3.3 million barrels last week, while gasoline stocks fell to their lowest level since November 2017, and in general, American production rose to 11.5 million barrels per day, which is equivalent to the highest level of American production so far this year.