Oil falls as U.S. inventory rise revives oversupply concerns

Oil falls as U.S. inventory rise revives oversupply concerns

TOKYO (Reuters) - Oil prices fell on Wednesday after data showed a rise in crude and fuel stockpiles in the United States, reviving concerns about oversupply and falling fuel demand in the world's largest crude consumer amid the coronavirus outbreak.. U.S. crude inventories climbed 8.4 million barrels in the week to June 5, API data showed, while a Reuters poll of analysts had indicated a draw of 1.7 million barrels.. Distillate fuel stockpiles, including diesel fuel and heating oil, rose by 4.3 million barrels, outpacing expectations for a 3 million barrel increase.. While layoffs fell in the U.S. in April, hiring hit a record low indicating it will take many years for a recovery in the labour market in the world's biggest economy..