The U.S. Energy Information Administration’s report released moments ago showed a rise in inventories of 7.1 million barrels in the week ending July 4, compared to expectations for a decrease of 1.7 million barrels. Gasoline inventories fell by about 2.7 million barrels, while distillate inventories, which include heating oil and diesel, fell by about 0.8 million barrels.
Brent crude is down about 0.56%, trading at $69.76 per barrel, while U.S. crude (NYMEX) is trading at $67.84 per barrel, down about 0.72%.