Traded oil futures remained lower on Wednesday after the Energy Information Administration said U.S. crude inventories rose 3.6 million barrels in the week ending July 30. Gasoline inventories, however, fell 5.3 million barrels, the agency said, while distillate inventories increased by 800,000 barrels. Analysts polled by S&P Global Platts, on average, had predicted that EIA data would show a drop in crude inventories of 4 million barrels last week. Gasoline inventories were expected to decline 1.1 million barrels, while distillate supplies were down 600,000 barrels. The American Petroleum Institute announced Tuesday evening a drop in crude inventories of 879,000 barrels. West Texas Intermediate crude for delivery in September CL00,
fell $ 1.35, or 1.9%, to $ 69.21 a barrel on the New York Mercantile Exchange.
NORTH DAKOTA - North Dakota regulators say the state has officially lost its status as the nation's second-largest oil producer...Read more