Oil futures lost more ground on Wednesday following weekly data that showed a climb in crude supplies that proved generally what the market expected.
The U.S. Energy Information Administration said crude stockpiles rose 1.4 million barrels for the week ended Feb. 28. Analysts polled by Platts were looking for a climb of 1.5 million barrels.
Gasoline supplies fell by 1.6 million barrels, while distillate stockpiles unexpectedly rose 1.4 million barrels, according to the EIA.
Gasoline and distillate stockpiles were expected to fall by 1.5 million barrels each, according to the Platts poll. April crude traded at $102.68 U.S. a barrel, down 65 cents, or 0.6%, on the New York Mercantile Exchange. Before the report, prices traded at $102.73 U.S.
