Oil futures pared some losses on Wednesday following weekly U.S. government data that showed a smaller-than-expected climb in crude supplies.
The Energy Information Administration said crude stockpiles rose 1.7 million barrels for the week ended April 25. Analysts polled by Platts were looking for a climb of 2.1 million barrels.
Gasoline supplies climbed by 1.6 million barrels, while distillate stockpiles added 1.9 million barrels, according to the EIA.
Gasoline stockpiles were expected to fall by 1.75 million barrels, while distillates, which include heating oil, were seen up one million barrels, according to the Platts poll.
June crude traded at $99.75 U.S. a barrel, down $1.53, or 1.5%, on the New York Mercantile Exchange. Before the report, prices traded at $99.50 U.S.
