Oil prices fell again today after a surprise jump in crude inventories. Prices were higher earlier in the session but reversed course after the EIA report was released. Crude inventories rose by 1.3MM/bbls compared to a forcasted drop of 700K/bbls. Gasoline stocks rose by 8MM/bbls while distillate stocks jumped by 6.5MM/bbls. “Part of the explanation is weaker crude and refined product exports resulting in higher U.S. builds, so that is something to watch in my view, how foreign demand evolves,” said UBS analyst Giovanni Staunovo. WTI traded up $.87 or 1.2% to close at $71.31. Brent traded up $.79 or 1% to close at $76.80

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