Oil prices slipped on Wednesday after Brent crude earlier hit a 2019 high above $72 a barrel, supported by steady economic growth in China and data showing U.S. crude stockpiles shrank last week.
U.S. West Texas Intermediate crude futures settled 29 cents lower at $63.76 per barrel, down half a percent but not far from last week's 2019 closing high at $64.61.
International benchmark Brent crude oil fell 10 cents to $71.62 a barrel, after earlier touching $72.27, the highest since Nov. 8.
U.S. crude inventories fell by 1.4 million barrels in the last week, compared with analysts' expectations for an increase of 1.7 million barrels in a Reuters survey. However, the official data from the Energy Information Administration on Wednesday was about half the decline reported by the American Petroleum Institute on Tuesday.
"The rally overnight was predicated on a 3 million-barrel per day draw in crude that did not materialize," said Bob Yawger, director of energy futures at Mizuho in New York. "You're going to need another catalyst."