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Oil falls after US inventories rise
Oil prices fell in Thursday's trading, after rising crude stocks in the United States last week, contrary to expectations of a decline.
The Energy Information Administration revealed Wednesday that US oil inventories rose by 5.8 million barrels to 438.1 million barrels during the week ending May 18.
Expectations were for inventories to fall by 1.6 million barrels.
Brent crude for July delivery fell 0.43 percent, or 34 cents, to $ 79.46 a barrel by 0530 GMT.
US crude futures for July delivery fell 0.35 percent, or 25 cents, to $ 71.59 a barrel.
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