Investing.com -
Oil prices resumed their decline on Wednesday, on bets U.S. supply data due later in the session will show a sizable increase.
U.S. crude futures were down 2.2% at $37.03 a barrel at 9.57 GMT, after rallying 2.88%, on Tuesday.
Internationally traded Brent futures dropped 1.67% to $37.16. A day earlier, the global benchmark jumped 3.19%.
On Tuesday, the American Petroleum Institute surprised market participants and said that U.S. oil inventories increased by 2.9 million barrels last week.
The U.S. Energy Information Administration will release its own weekly report on oil supplies later Wednesday.