Eurozone industrial production fell more than expected in May, according to the latest figures from Eurostat.
Industrial production dropped 1.2% from April versus expectations of a 0.8% decline.




According to the report from the EIA, US crude oil inventories were at historically high levels for that time of year, at 521.8m barrels.

Data from the American Petroleum Institute published on Tuesday was also weighing on crude oil futures, after it showed US crude inventories rose by 2.2m barrels in the week to July 8 to 523.1m, versus analysts' expectations for a 3m barrel drop.