Oil prices fall on inventory data

Crude oil futures prices fell Wednesday after the U.S. government released data showing crude oil and gasoline supplies on the rise.

But prices are still hovering near $67 a barrel, and the market remains jittery about geopolitical tensions ranging from the West's nuclear standoff with Iran to the war in Iraq and unrest in Nigeria.

In its weekly petroleum supply report, the Department of Energy said commercial inventories of crude oil climbed last week by 1.9 million barrels to 321 million barrels, or 11 percent above year ago levels. Gasoline inventories grew by 4.2 million barrels to 219 million barrels, or roughly equal to last year's level.

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