The American Petroleum Institute (API) on Tuesday reported an increase of 0.423 million barrels of crude oil in U.S. inventories for the week ending March 1, APA reports.
Analysts expected a rise of 2.6 million barrels for the week.
The API reported a hike of 8.428 million barrels in the previous week.
Oil prices fell on Tuesday.
The West Texas Intermediate for April delivery decreased 59 cents, or 0.75 percent, to settle at 78.15 U.S. dollars a barrel on the New York Mercantile Exchange. Brent crude for May delivery lost 76 cents, or 0.92 percent, to settle at 82.04 dollars a barrel on the London ICE Futures Exchange.
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