Oil prices reversed early losses on Wednesday after the market absorbed government data that showed a surprise build in U.S. crude inventories, but also indicated some bullish demand for gasoline.
U.S. West Texas Intermediate crude ended the session up 68 cents, or 1 percent, at $68.76, after earlier falling towards Tuesday's one-month low of $67.03 per barrel.
Brent futures rose 68 cents, or nearly 1 percent, to $72.84 by 2:25 p.m. ET, after falling nearly a dollar to a low of $71.19 a barrel, its weakest since April 17.
U.S. crude stocks surprised the market and rose by 5.8 million barrels last week as oil production hit 11 million barrels a day for the first time ever, the Energy Information Administration said on Wednesday.
Crude futures extended losses immediately following the data release, before edging higher as the market weighed some of the more supportive points in the report, such as a larger-than-expected draw in gasoline stocks.