Oil prices fell Wednesday after an unseasonal growth in crude stockpiles offset the second-biggest weekly draw in U.S. gasoline this summer.
Data showing Saudi Arabia pumping oil at record high volumes in July added to worries about a global crude glut.
U.S. crude inventories gained 1.1 million barrels in the week ended Aug. 5, the U.S. Energy Information Administration (EIA) reported, in a third straight week of builds that surprised the market. Analysts polled by Reuters had expected a 1.0 million-barrel crude draw instead.
The EIA also reported that U.S. gasoline stocks fell 2.8 million barrels last week in the second-biggest weekly draw for gasoline since mid-April. The draw, coming despite U.S. East Coast refinery runs hitting 2011 lows, exceeded expectations for a gasoline stockpile drop of only 1.1 million barrels.
International benchmark Brent crude futures were down $1.06, or 2.3 percent, at $43.93 per barrel. U.S. West Texas Intermediate (WTI) crude oil futures settled at $41.71 a barrel, down 2.48 percent, or $1.06.