Oil futures pared some of their earlier gains on Wednesday following weekly data that showed a jump in crude supplies that was quadruple what was expected.
The U.S. Energy Information Administration said crude stockpiles climbed 10 million barrels for the week ended April 11. Analysts polled by Platts were looking for a climb of 2.4 million barrels.
Gasoline supplies edged down by 200,000 barrels, while distillate stockpiles fell 1.3 million barrels, according to the EIA.
Gasoline stockpiles were expected to fall by 1.7 million barrels, while distillates, which include heating oil, were seen down 200,000 barrels, according to the Platts poll.
May crude traded at $104.25 U.S. a barrel, up 50 cents, or 0.5%, on the New York Mercantile Exchange. Before the report, prices traded at $104.53 U.S.
