Crude oil prices dropped under $97 per barrel after the U.S. Energy Information Agency said inventories rose by 4.2 million barrels in the week ending Friday.
Inventories rose to 338.9 million barrels in the week and remain in the upper limit of the average range for this time of year, the agency said.
On the New York Mercantile Exchange, March delivery light, sweet crude oil shed $1.11 to $96.50 per barrel. Home heating oil added 0.25 cents to $3.048 per gallon. Reformulated blendstock gasoline gave up 1.98 cents to reach $2.8726 per gallon.
At the pump, the national average price of unleaded gasoline rose to $3.455 per gallon from Wednesday's $3.45, AAA said.