Crude-oil futures turned lower Wednesday after the Energy Information Administration reported a gain in oil, gasoline and distillates inventories last week.
Oil for June delivery fell 52 cents, or 0.6%, to $83.33 U.S. a barrel. It had traded higher ahead of the 10:30 a.m. ET data.
The Energy Information Administration said crude-oil inventories rose 1.9 million barrels in the latest week. Analysts surveyed by Platts were expecting a more modest gain of 300,000 barrels.
Gasoline stockpiles rose 3.6 million barrels versus expectations of a 100,000-barrel gain. Distillate stockpiles added 2.1 million barrels, also above expectations
