U.S. crude oil inventories increased for a third consecutive week while gasoline stocks declined for the first time in three months, according to data released by the U.S. Energy Information Administration.

Oil prices fell more than 1% a barrel on Wednesday, on track to end three days of gains after data showed U.S. crude stockpiles rose by more than expected last week, and hawkish remarks from the Federal Reserve chair.

US crude oil inventories rose for the third straight week in the week ended Fed. 7, adding as many as 4.1 million barrels, against forecasts for an in

Oil futures looked to post a loss Wednesday, their first in four sessions, after official U.S. data revealed a third straight weekly climb in U.S. crude supplies.

Oil prices fell on Wednesday as an industry report showed an increase in U.S. crude stockpiles and tariff worries weighed on sentiment, paring back three days of gains driven by increasing Middle East tensions and intensifying sanctions.