Oil falls as rising U.S. inventories offset Saudi pipeline disruption fears

  • Oil prices fell as traders assessed higher U.S. inventories and Saudi pipeline disruption risks.
  • U.S. crude, gasoline and distillate inventories all rose last week.
  • The U.S. war with Iran cost the Pentagon an estimated $38.1 billion through Aug. 1.

Oil prices fell as traders balanced an unexpected rise in U.S. crude inventories against potential supply disruptions following an Iran-backed attack on Saudi Arabia's East-West pipeline. U.S. crude oil, gasoline and distillate inventories all increased last week, Reuters reported. The U.S. war with Iran has cost the Pentagon an estimated $38.1 billion through Aug. 1.

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