WASHINGTON (dpa-AFX) - Crude oil prices were flat Wednesday amid contrasting U.S. oil and gasoline stockpile figures.
Crude inventories rose by 5 million barrels in the week to March 9, much more than expected, according to EIA data. Production also jumped.
However, gasoline stockpiles were down 6.3 million barrels, suggesting future demand for crude oil by refineries.
April WTI oil edges up by 25 cents, or 0.4%, to settle at $60.96/bbl
In economic news, U.S. wholesale prices rose slightly in February, roughly in line with the tepid growth seen in consumer prices.
On a monthly basis, the producer price index that measures wholesale inflation was up 0.2% following January's 0.4% increase.
Retail sales were off 0.1 percent, disappointing economists looking for growth.
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