Oil ends 3% lower after surprise jump in crude inventories

Oil futures ended sharply lower Wednesday after government data showed an unexpected jump in U.S. crude oil inventories. West Texas Intermediate crude for September delivery CLU8, -0.25% on the New York Mercantile Exchange fell $2.03, or 3%, to close at $65.01 a barrel after trading as low as $64.51. The Energy Information Administration reported that crude inventories rose 6.8 million barrels in the week ended Aug. 10. Analysts surveyed by The Wall Street Journal had forecast a fall of 2.4 million barrels.

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