Oil inched toward the $70-a-barrel mark in London and then stumbled Wednesday, after a report showed U.S. crude supplies rising by the most since January and production reaching a record.
After nearing its highest point in five months, benchmark Brent crude lost 0.1 percent as the Energy Information Administration report renewed questions about a global oversupply. The agency said crude stockpiles grew by 7.24 million barrels last week, topping analyst and industry estimates.
