Oil falls below $41 as U.S. inventory rise revives glut worries

Oil falls below $41 as U.S. inventory rise revives glut worries

LONDON (Reuters) - Oil fell more than 1% to below $41 a barrel on Wednesday after a report showed a rise in crude inventories in the United States, reviving concerns about oversupply and weak demand because of the coronavirus crisis.. "Indications from the American Petroleum Institute show that stocks built quite a lot," said Bjornar Tonhaugen of Rystad Energy.. But some analysts think the market has risen too far as the coronavirus pandemic continues.. Official government figures on U.S. stockpiles from the Energy Information Administration are due later on Wednesday..