RTRS: Brent, U.S. crude drop $1 as inventories rise
May 2 (Reuters) - Brent and U.S. oil futures fell more than $1 on Wednesday after the Energy Information Administration reported that crude stocks rose last week in the United States, by more than analysts had projected, though refined product stocks fell.
Brent June crude was down $1.40 at $118.26 a barrel at 11:26 a.m. EDT (1526 GMT), having traded from $118.18 to $119.80.
U.S. June crude was down 96 cents at $105.20 a barrel, having traded as low as $105.14, pushing below the 50-day moving average of $105.22 after reaching $106.05. (Reporting by Robert Gibbons; Editing by Dale Hudson)
