Oil futures cut their gains Wednesday after the U.S. Energy Information Administration reported an increase of 400,000 barrels in crude stockpiles for the week ended July 26.
Analysts polled by Platts were looking for a three-million-barrel decline.
The American Petroleum Institute late Tuesday had reported a fall of 740,000 barrels. Gasoline supplies rose by 800,000 barrels, while distillate stockpiles fell 500,000 barrels, the EIA said.
Gasoline stockpiles were expected to decline by 1.5 million barrels, while forecasts called for an increase of 800,000 barrels for distillates.
Following the latest data, September crude traded at $103 U.S.
