Crude oil futures fell further Wednesday after industry data revealed a surprise build in U.S. oil inventories.
WTI light sweet oil was down 72 cents at $45.94 a barrel, the lowest in weeks.
The American Petroleum Institute said on Tuesday that crude oil inventories last week surged 9.3 million barrels.
However, official figures from the Energy Information Administration have defied some recent API reports.
U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) increased by 14.4 million barrels from the previous week. At 482.6 million barrels, U.S. crude oil inventories are at the upper limit of the average range for this time of year.
Distillate fuel inventories decreased by 1.8 million barrels last week but are well above the upper limit of the average range for this time of year. Propane/propylene inventories rose 0.3 million barrels last week and are near the upper limit of the average range. Total commercial petroleum inventories increased by 9.0 million barrels last week.
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