Oil Renews Decline as US Inventories Expand, Delta Spreads By Bloomberg – Investing.com

Oil Renews Decline as US Inventories Expand, Delta Spreads By Bloomberg – Investing.com

(Bloomberg) -- Oil fell after a surprise build in U.S. stockpiles and as investors weighed the impact on demand from the rapid spread of the delta variant.

West Texas Intermediate lost 0.6% in early Asian trading, resuming declines after a rise on Tuesday. The American Petroleum Institute was said to report an 806,000 barrel gain in inventories, according to people familiar with the figures. The climb would be first since May, if confirmed by the Energy Information Administration later Wednesday. Gasoline holdings also expanded.