MW: Oil reverses lower after surprise inventory build
By Claudia Assis
SAN FRANCISC0 (MarketWatch) -- Oil futures turned lower Wednesday after the Department of Energy reported a surprise increase in crude-oil inventories. Crude for August delivery lost 12 cents, or 0.2%, to $75.80 a barrel. The DOE's Energy Information Administration said commercial crude oil inventories increased 2 million barrels from the previous week. Total motor gasoline inventories decreased by 0.8 million barrels last week. Total motor gasoline inventories decreased 800,000 barrels, while distillates increased by 300,000 barrels. Reformulated gasoline for July delivery declined a penny to $2.06 a gallon. July heating oil declined 2 cents, or 0.8%, to $2.03 a gallon.
