Oil falls to near $82 in Asia as US crude inventories rise more than expected
{{#rendered}} {{/rendered}}SINGAPORE (AP) — Oil prices fell to near $82 a barrel Wednesday in Asia, extending big losses from the previous day as a report showed U.S. crude supplies rose more than expected last week.
Benchmark crude for June delivery was down 46 cents to $82.28 a barrel at midday Singapore time in electronic trading on the New York Mercantile Exchange.
The June contract fell $3.45, or 4 percent, to settle at $82.74 on Tuesday on investor fears a $144 billion bailout for Greece won't keep the debt crisis from spreading to other European countries.
{{#rendered}} {{/rendered}}U.S. crude inventories rose 3.0 million barrels last week, the American Petroleum Institute said late Tuesday. Analysts had expected an increase of 1.5 million barrels, according to a survey by Platts, the energy information arm of McGraw-Hill Cos.
Inventories of gasoline and distillates also rose, the API said.
The Energy Department's Energy Information Administration is scheduled to announce its supply report later Wednesday.
{{#rendered}} {{/rendered}}In other Nymex trading in June contracts, heating oil fell 1.06 cents to $2.249 a gallon, and gasoline slipped 1.34 cents to $2.309 a gallon. Natural gas rose 1.3 cents to $4.026 per 1,000 cubic feet.
In London, Brent crude was down 45 cents at $85.22 on the ICE futures exchange.