Oil Slips on Inventory Jump

Oil slipped further below $56 a barrel on Wednesday as an industry report showing a large rise in U.S. crude inventories signaled ample supply, even as OPEC achieves record compliance with its supply-cut accord. U.S. inventories rose by a larger-than-expected 9.9 million barrels last week, the American Petroleum Institute trade group said on Tuesday, ahead of the Energy Information Administration’s official supply report.