Oil prices slid on Thursday after data showed an unexpected rise in U.S. inventories.
U.S. Crude Oil WTI Futures slid 0.3% to $59.23 by 12:30 AM ET (04:30 GMT). International Brent Oil Futures was down 0.2% to $67.13.
The U.S. Energy Information Administration (EIA) reported that U.S. crude stocks increased by 2.8 million barrels last week. Markets previously expected a decrease of 1.2 million barrels.
The data disappointed oil bulls counting on a third-straight week of draws after a total inventory slide of nearly 14 million barrels in the two previous weeks.
The EIA also reported that gasoline inventories fell by 2.88 million barrels, compared with expectations for a draw of 2.78 million barrels. Distillate stockpiles dropped by 2.08 million barrels, compared with forecasts for a decline of 0.9 million.
Source : Investing.com