Oil fell in early Asian trade on Wednesday, paring two straight days of gains after an industry report showed US crude inventories rose unexpectedly last week in a sign fuel demand may be weakening.
Brent futures, which have risen more than 3 per cent this week, were down 48 cents, or 0.6 per cent, at $74.84 a barrel at 0203 GMT. US West Texas Intermediate (WTI) crude futures were down 47 cents, or 0.7 per cent, at $69.20.
Data from the American Petroleum Institute on Tuesday showed US crude inventories rose by about 3.3 million barrels in the week ended March 17, sources said.
