WTI futures trim losses after weekly US inventory data

US oil stockpiles jumped during the previous week as the flow of imports picked-up, government data showed.

Commercial crude oil inventories grew by 5.3m barrels a day in the week ending on 11 November to reach 490.3m barrels, according to the Energy Information Administration, the Department of Energy's statistical arm.

Total gasoline inventories rose by 0.7m barrels while those for distillates grew by 0.3m barrels.

In parallel, imports advanced by 981,000 barrels a day in comparison to the week before.

Refineries operated at 89.2% of their capacity during the latest reference week.

As of 1544 GMT front month West Texas Intermediate crude oil futures were off their session lows but still down by 0.51% at $46.71.