Elsewhere in the energy complex, Nymex gasoline for March RBH5, -0.89% lost 2 cents, or 1%, to $1.58 a gallon, with the API data reportedly showing a rise in gasoline stocks of 2 million barrels last week.
Moving the other direction, meanwhile, natural gas for March delivery NGH15, +0.15% rose 2 cents, or 0.6%, to $2.77 per million British thermal units, building on a 7-cent gain the day before.
Benchmark U.S. crude-oil futures headed solidly lower in early electronic trade Wednesday, giving away a chunk of the gains made in a monster rally the previous day as inventory data showed more oil on hand than expected.
West Texas Intermediate crude for March CLH5, -1.36% was down $1.48, or 2.8%, at $51.57 a barrel by midday in East Asia.
In other metals, platinum for April delivery PLJ5, +0.27% climbed $6.60 to $1,235.20 an ounce, while March palladium PAH5, +0.46% shed $2, or 0.3%, to $786 an ounce.
High-grade copper for March delivery HGH5, -0.06% surged 9 cents, or 3.7%, to $2.58 a pound.
