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Oil dips after an unexpected U.S. crude inventory build


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Oil futures dipped on Thursday after a surprise build in U.S. crude inventories reversed an advance in prices that had boosted the benchmarks to their highest levels since July last year. U.S. crude stocks unexpectedly rose for the second straight week, data from the U.S. Energy Information Administration showed, gaining 614,000 barrels last week versus analysts' forecasts of a decline of 2.1 million barrels. At the Cushing, Oklahoma, delivery hub for U.S. crude futures, inventories rose 172,000 barrels, the EIA said.

 

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