U.S. crude oil inventories increased for a third consecutive week while gasoline stocks declined for the first time in three months, according to data released by the U.S. Energy Information Administration.

Oil prices fell more than 1% a barrel on Wednesday, on track to end three days of gains after data showed U.S. crude stockpiles rose by more than expected last week, and hawkish remarks from the Federal Reserve chair.

Oil futures posted their first loss in four sessions on Wednesday after official U.S. data revealed a third straight weekly climb in U.S. crude supplies.

Oil prices edged down on Wednesday as an industry report showed an increase in U.S. crude stockpiles and tariff worries weighed on sentiment, though stronger refining margins limited the market's downside.