Oil prices resumed their slide on Wednesday, dragged down after an unexpected gain in U.S. inventories, but with losses capped by a recovery in global equities on hopes of a rate cut from the Federal Reserve. U.S. crude inventories rose unexpectedly last week, while gasoline and distillate stockpiles built more than expected, data from American Petroleum Institute showed on Tuesday. Crude stocks rose by 3.5 million barrels in the week to May 31 to 478 million barrels, compared with analysts' expectations for a decrease of 849,000 barrels. Click Read More below for additional information.
National Average Price for Regular Unleaded – Current: $2.671; Month Ago: $2.749; Year Ago: $2.866. National Average Price for Diesel – Current: $2.973; Month Ago: $3.004; Year Ago: $3.154.