LONDON—Oil fell more than 2 percent toward $40 a barrel on June 10 after a report showed a rise in crude inventories in the United States, reviving concerns about oversupply and weak demand because of the CCP virus crisis.
The report from the American Petroleum Institute, an industry group, said crude stocks rose by 8.4 million barrels, rather than falling as analysts forecast. The U.S. government’s official stocks figures are due out later on Wednesday.
