Crude oil futures gained on Wednesday as inventories increased as per latest report of Energy Information Administration. According to the latest data of EIA, crude oil inventories increased by 5.3 million barrels for the week, whereas analysts expected the decline of 1.2 million barrels. As per data on Bentz the Cushing crude stocks declined by 600,000 barrels for the week which happens to be first decline since November 2010.

Crude oil futures contract for October delivery fell 0.1 percent or $0.09 to settle at $88.81 per barrel on New York Mercantile Exchange.

Gasoline stockpiles declined 2.8 million barrels whereas analysts expected the decrease of 1.1 million barrels in gasoline inventories. Distillates which include heating oil and diesel surged by 400,000 barrels as compared to increase of 1.1 million barrels forecasted by analysts.

Gasoline futures contract for September delivery which expired on Wednesday declined 1.2 percent or $0.04 to $3.03 per gallon. September heating oil futures contract slightly gained $0.01 to $3.08 per gallon. The respective contract declined 0.6 percent in the month of August.

Natural gas futures contract for October delivery surged 3.7 percent or $0.15 to $4.05 per million British thermal units on Wednesday. The respective contract declined 2.4 percent for the month of August.