NNA - Oil prices fell on Wednesday after data showed U.S. crude inventories rose by more than expected even as refining activity rebounded, though futures remained up about 2% this week as traders factored in continuing conflict in the Middle East.

Brent crude futures settled at $74.96, down $1.08, or 1.42%. U.S. West Texas Intermediate crude futures settled down 97 cents, or 1.35%, to $70.77.

Last week oil fell more than 7% on worries about Chinese demand and easing worries about potential disruptions of Middle East oil supplies. Oil settled higher the first two sessions this week as buyers emerged.--Reuters 

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