An oil pumpjack operates near Williston, North Dakota

“Oil prices fell nearly 5 percent on Thursday, reversing early gains after the U.S. government reported a weekly crude draw that disappointed market bulls expecting larger declines.

U.S. commercial crude stockpiles fell by 2.2 million barrels to a total of 524.4 million in the week through July 1, the Energy Information Administration reported.”

Image Source: Andrew Cullen | Reuters