Oil prices fell on the U.S. crude oil inventories data. U.S. crude inventories increased by 2.62 million barrels to 456.2 million in the week to August 14.

Analysts had expected U.S. crude oil inventories to decline by 0.6 million barrels.

Gasoline inventories fell by 2.7 million barrels, according to the EIA.

Crude stocks at the Cushing, Oklahoma, rose by 326,000 barrels.

U.S. crude oil imports increased by 465,000 barrels per day.

Refineries in the U.S. were running at 95.1% of capacity, down from 96.1% the previous week.

This data added to concerns over the global oil supply.

WTI crude oil for September delivery declined $41.06 a barrel on the New York Mercantile Exchange.

Brent crude oil for September decreased to $48.37 a barrel on ICE Futures Europe.