Oil Falls a Second Day After Report Shows U.S. Supplies Rose

Crude oil fell for a second day after an industry report showed that inventories rose last week. Oil dropped as much as 1.7 percent after the American Petroleum Institute reported yesterday that oil supplies climbed 1.3 percent, the most since April, to 346.7 million barrels. The Energy Department will say in a report today that stockpiles fell 1.15 million barrels last week, according to a Bloomberg survey of analysts.“If we’re seeing actual builds in inventories, especially crude inventories, that might imply we’re seeing a bit of a rush to the market with new supply coming in,” said Brad Samples, a commodity analyst for Summit Energy Inc., an energy management company in Louisville, Kentucky.....Complete Story