Mubasher: US crude oil stockpiles expanded more than forecasts during the week ended 23 February, data released on Wednesday showed.

Inventories grew by 3.0 million barrels to 423.5 million barrels, standing in the lower half of the average range for this time of the year, the Energy Information Administration (EIA) revealed.

These figures come higher than economists’ expectations of a 2.4-million-barrel increase last week.

Meanwhile, total motor gasoline inventories rose by 2.5 million barrels, according to the EIA’s data.

By 03:27 pm GMT, Brent crude futures edged down by 0.12% to $66.55 per barrel (pb), while Nymex crude climbed by 0.17% to $63.12 pb.