LONDON (Reuters) – Oil prices fell on Wednesday after industry data showed crude oil stockpiles rose more than expected and fuel inventories unexpectedly increased last week in the United States, the world’s largest oil consumer. Crude oil inventories rose 2.3 million barrels in the week ending Oct. 22, American Petroleum Institute figures said late on Tuesday. That was the 5th straight weekly increase. Gasoline inventories rose by 500,000 barrels and distillate stocks increased by 1 million barrels, With Brent rising the past eight weeks and WTI climbing for the past 10 weeks supplies are roaring back. “Barring more bullish headlines, which is possible considering what we saw yesterday, we could see some profit-taking in Brent and WTI which would be healthy for the market,” said Craig Erlam, senior market analyst at OANDA. Storage tanks at the Cushing, Oklahoma, delivery hub for WTI oil are more depleted than they have been in the last three years, while prices for longer-dated futures contracts point to supplies staying at those levels for months. But a patchy recovery around the world from the worst health crisis in 100 years, after the COVID-19 pandemic dented demand for months on end, has often led to doubts over the sustainability of prices. “The global oil market is still at risk due to not fully containing the coronavirus and its variants,” said Stephen Brennock of oil broker PVM. “A flare-up in cases over the summer weighed heavily on prices and this could feasibly happen again if the situation worsens.” NN: My position is clear. If they want to pay me $80 a barrel for oil i will sell them some. And if they are fool enough to pay me $90 a barrel i will sell them a whole lot more