Oil prices fell for a third straight session on Wednesday after industry data pointed to rising U.S. inventories. China demand concerns also weighed on prices.
Benchmark Brent crude futures dipped 0.2 percent to $95.20 a barrel, while WTI crude futures were down 0.3 percent at $88.64.
The American Petroleum Institute (API) reported that oil inventories increased by 5.61 million barrels last week, following a major surprise draw in crude oil inventories of 6.53 million barrels in the previous week.
The build in inventories was partially due to the Department of Energy's release of 3.6 million barrels from the Strategic Petroleum Reserves in the week ending November 4.
The report also showed higher gasoline stockpiles, adding to demand concerns amid signs of worsening COVID-19 outbreaks in China.
COVID cases hit the highest in more than five months in Beijing, with 78 new infections reported for Wednesday.
The official inventory report from the Energy Information Administration (EIA) will be out later in the day.
On Tuesday, the EIA has slashed its world oil demand growth forecast for 2023 by 320,000 barrels per day while raising 2022 oil demand growth by 140,000 bpd.
