Oil prices mixed as U.S. gasoline stocks shrink, but crude stockpiles grow - Reuters

Oil prices mixed as U.S. gasoline stocks shrink, but crude stockpiles grow - Reuters:

Oil futures were mixed on Wednesday as concerns about oversupply in the market, stoked by an rise in U.S. crude inventories, were offset by a drop in gasoline stocks that lifted hopes for fuel demand recovery amid the re-opening of the global economy. 

Brent crude was up 12 cents, or 0.3%, at $42.75 a barrel by 0643 GMT after falling to $42.30 earlier in the session.

U.S. West Texas Intermediate (WTI) crude futures fell 1 cents to $40.34 a barrel, paring some of earlier losses.

U.S. crude inventories rose by a much bigger than expected 1.7 million barrels last week, according to industry group the American Petroleum Institute (API), well ahead of analysts’ expectations for a 300,000-barrel build.