Oil fell in Asian trade on Wednesday morning, paring two straight days of gains after an industry report showed U.S. crude inventories rose unexpectedly last week in a sign fuel demand may be weakening.
Brent futures, which have risen more than 3% this week, were down 37 cents, or 0.5%, at $74.95 a barrel at 0400 GMT. U.S. West Texas Intermediate (WTI) crude futures were down 39 cents, or 0.6%, at $69.28.
Data from the American Petroleum Institute on Tuesday showed U.S. crude inventories rose by about 3.3 million barrels in the week ended March 17, sources said.
