Crude stocks at the Cushing, Oklahoma, delivery hub rose by 459,000 barrels, EIA said. Gasoline stocks were down (-3.0m vs. -0.3m expected) while distillate stocks (-3.0m vs. -0.4m expected) were also down.
Crude oil futures edged higher Wednesday despite a significant build in United States oil inventories.
Geopolitical tensions, including the prospect of fresh sanctions on Iran and disruption to the country's oil flows, helped push oil higher this month. Brent crude is now above $74.0.
"Crude oil prices see-sawed lower overnight, after the previous days' climb to its 2014 highs", OCBC Commodity economist Barnabas Gan said. "However, given the already vast holdings of long positions in oil, there are doubts over the scope for further inflows".
As of 0220 GMT, the US Dollar Index was up 0.16% at 90.695.
About THAT hat Melania Trump is wearing
The Late Show's Stephen Colbert on Tuesday chose to try his hand at an awkward moment between the president and first lady. This isn't the first moment when the U.S. first lady appeared averse to hold her spouse's hand.