Oil edged lower in early trade after falling more than 1% in the previous session due to a stronger dollar and a rise in U.S. fuel stockpiles.

Oil futures edged a bit higher on Wednesday after the U.S. Energy Information Administration reported that commercial crude inventories fell for a seventh strai

Oil futures pulled back Wednesday to their lowest levels in a month, following the release of bearish data from the U.S. government's weekly inventory report showing large increases in domestic gasoline and distillate stocks,