21-07-2016 19:04 via uk.news.yahoo.com

Oil down 2 percent as record U.S. stockpiles heighten glut worry

By Barani Krishnan NEW YORK (Reuters) - Oil prices fell nearly 2 percent on Thursday, as the market took a closer look at U.S. government data that showed growing inventories of gasoline and other oil products pushed total petroleum supplies in the world's largest oil consumer to a record high. The previous session, Brent and U.S. crude futures rose by up to 1 percent after the Energy Information Administration (EIA) said crude inventories dropped 2.3 million barrels last week, versus forecasts
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