Oil Falls as Stockpiles Rise

U.S. oil prices fell on Friday after official data released late on Thursday showed stockpiles rose last week for a seventh straight week, although losses were muted as inventory growth was well below expectations. There were also signs that traders are starting to shift crude stored on tankers in Asia and tanks in the U.S. U.S. West Texas Intermediate was down 16 cents at $54.29 by 0728 GMT.