Oil futures pared losses on Wednesday following weekly data from the U.S. Energy Information Administration showing that crude supplies climbed by three million barrels for the week ended Nov. 22.
Analysts polled by Platts were looking for a decline of 1.5 million barrels but the American Petroleum Institute had reported a much bigger 6.9-million-barrel increase.
The EIA added that gasoline supplies rose by 1.8 million barrels, while distillate stockpiles fell 1.7 million barrels.
Gasoline stockpiles were expected to be up one million barrels while distillate supplies were seen down 1.3 million barrels, according to the Platts poll.
Following the latest data, January crude traded at $92.42 U.S. a barrel, down $1.26, or 1.4%, on the New York Mercantile Exchange. It was trading a bit lower at around $92.26 U.S. shortly before the report.
