Crude futures continued to trade lower Wednesday after the U.S. Energy Information Administration reported a 900,000-barrel climb in U.S. crude supplies for the week ended May 18.
Motor gasoline supplies fell 3.3 million barrels, while distillate stocks edged lower by 300,000 barrels in the latest week, the EIA report said.
Analysts polled by Platts expected data to show that crude-oil stocks rose by 750,000 barrels. They also forecast a decline of 200,000 barrels in gasoline stocks and a fall of 350,000 barrels in distillate supplies.
The American Petroleum Institute late Tuesday reported a 1.5-million barrel rise in crude supplies.
Following the latest data, July crude fell $1.13, or 1.2%, to $90.72 U.S. a barrel. It was trading around $90.66 U.S. shortly before the data release.
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