M barrels. Crude inventory change: 3.5M barrels vs. -1M barrels for the week ended Jan. 17. Consensus estimate 2.200M. Gasoline inventory change: 3.0M barrels vs. +2.3M barrels for the week ended Jan.

Commercial crude stockpiles rose by 3.5 million barrels. Analysts had predicted inventories would increase by 1.1 million barrels.

Crude and gasoline inventories saw moderate increases while middle distillate inventories saw a strong draw last week

U.S. oil futures on Wednesday marked their lowest settlement price of the year so far after official data revealed a weekly rise in commercial crude inventories following nine consecutive weekly declines.

U.S. crude oil stockpiles were expected to have fallen last week while gasoline and distillate inventories likely rose, an extended Reuters poll showed on Wednesday.