Oil prices are down today after the US government reported that stocks of crude are still running much higher than usual for this time of year.
Benchmark crude fell 66 cents to $87.84, reversing their earlier gains.
But the weekly report from the Energy Information Administration showed that inventory has barely moved at the key oil hub in Cushing.
That suggests that most refiners have all the supply they need for now, driving prices lower.
US inventories declined more than analysts expected, but supplies remain well above average.
