Oil was poised for the first weekly decline since mid-February as US crude stockpiles expanded again, keeping supplies at the highest level in more than eight decades.

Oil prices have bounced back from three-week lows, with US refined fuels markets leading the rally on bets for strong summer demand, even as Greece’s move towards a debt default threatened to jolt global markets.

Lightweight double sculls duo Sam Lynch and Gearóid Towey have seen the end of their Olympic dream after they were pipped at the post by Japan in semi-final B.