NEW YORK, Feb. 27 (Xinhua) -- Crude futures prices retreated Wednesday after rising above 102 U.S. dollars a barrel.
The Energy Department's Energy Information Administration reported that U.S. crude oil inventories rose by 3.2 million barrels, or 1 percent, to 308.5 million barrels.
Data showed gasoline inventories also jumped more than expected, by 2.3 million barrels to 232.6 million barrels. Refinery activity also increased much more than expected.
Light, sweet crude for April delivery fell 1.24 dollars to settle at 99.64 dollars on the New York Mercantile Exchange, after surging as high as 102.08 dollars a barrel in electronic trading earlier.
In London, Brent crude fell 1.20 dollars to 98.27 dollars a barrel on the ICE Futures exchange.
The Energy Department's Energy Information Administration reported that U.S. crude oil inventories rose by 3.2 million barrels, or 1 percent, to 308.5 million barrels.
Data showed gasoline inventories also jumped more than expected, by 2.3 million barrels to 232.6 million barrels. Refinery activity also increased much more than expected.
Light, sweet crude for April delivery fell 1.24 dollars to settle at 99.64 dollars on the New York Mercantile Exchange, after surging as high as 102.08 dollars a barrel in electronic trading earlier.
In London, Brent crude fell 1.20 dollars to 98.27 dollars a barrel on the ICE Futures exchange.
