Crude oil futures nursed a small loss on Wednesday after government weekly data showed a bigger than expected rise in gasoline and distillate inventories.

Crude for February delivery had been trading in positive territory before the Energy Information Administration report but later retreated 5 cents to settle at $93.10 a barrel on the New York Mercantile Exchange.

The EIA report showed crude supplies rose by 1.3m barrels for the week ended January 4th. Analysts expected a 1.5m barrel increase.

Meanwhile gasoline supplies surged 7.4m barrels in the last week while distillates, used in heating oil and diesel, advanced 6.8m barrels, the EIA report said. Analysts had pencilled in an increase of 2.6m barrels and 1.5m barrels respectively.

In London, February Brent crude dropped 18 cents to settle at $111.76 a barrel on the ICE Futures Exchange.

Among precious metals gold declined after the previous session's sharp rally as gains among equities and the stronger dollar eroded the yellow metal's appeal.

Gold for February delivery dropped $6.70 to settle at $1,655.50 an ounce on the Comex division of the New York Mercantile Exchange.




CJ

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