Oil Dips Following Inventory Report

Crude oil futures fell slightly following a Department of Energy report that showed an increase in inventories last week, Bloomberg reported Wednesday.

Benchmark light sweet crude futures fell 5 cents to $80 a barrel following the weekly DOE report that showed oil stockpiles gained 1.1 million barrels last week, Bloomberg said.

Oil closed Monday at $80.24 and Tuesday at $80.05 on the New York Mercantile Exchange. It closed at a record $83.32 on Sept. 20.