US Oil inventories rise 2.2 million barrels Last Week

The American Petroleum Institute reported a rise of crude oil and refined products inventories in the United States last week, contrary to expectations for a decline to 3 million barrels. 
Data from the Institute revealed that oil stocks rose 2.2 million barrels in the week ending on July 8 to reach 523.1 million barrels, while analysts' forecasts point to a decline of 3 million barrels. 
Crude stocks have fallen in the delivery of futures contracts center in Cushing, Oklahoma 166 thousand barrels. 
A report by the American Petroleum Institute said gasoline inventories rose 1.5 million barrels last week, a decrease of 432 thousand barrels. 
The Institute said that US imports of crude oil last week rose by 1.1 million barrels to 8.31 million barrels a day. 
The US Department of Energy's Energy Information Administration (EIA) will release official weekly inventory data later on Wednesday.