By Gina Lee

Investing.com – Oil prices slid for a second straight day after peaking with a seven-year high at the start of the week, after a jump in U.S. crude inventory was discovered.

dropped 2.23% to $82 by 12:01 AM ET (4:01 AM GST) and {
} also tumbled 1.97% to $81.03.

The. According to Investing.com, the forecasts for the next week predicted a build in barrels of 1.914million. A draw of 431,0000-barrels occurred during the prior week. 

The day before, a report showed that there was a build of 2.318 million barrels. 

Citi Research commodities’ analysts stated in a note that the EIA stocks rose “on top of a large increase in net crude oil imports and still slow refinery process.”

However,  EIA data also showed that fell by 1.994 million barrels to the lowest in nearly four years, even as U.S. consumers are challenged with rising prices.

Furthermore, the WTI delivery center in Cushing in Oklahoma is experiencing the largest decline in crude storage in the last three years. Prices for futures contracts with longer terms showed that supply will remain low for several months.