Oil Falls as U.S. Crude, Gasoline Inventories Rise ...Middle East

Crude oil inventories in the United States increased by 3.8 million barrels during the week ending June 27, according to new data from the U.S. Energy Information Administration (EIA) released on Wednesday. The build brings commercial stockpiles to 419 million barrels, roughly 9% below the five-year average for this time of year. Crude prices were trading up ahead of the report. The American Petroleum Institute (API) on Tuesday had estimated a 680,000-barrel build for the week ending June 27 after analysts had estimated a much smaller 2.26-million-barrel…

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