U.S. oil futures on Wednesday marked their lowest settlement price of the year so far after official data revealed a weekly rise in commercial crude inventories following nine consecutive weekly declines.

Oil prices fell on Wednesday, following a rise in U.S. crude stockpiles and easing worries over Libyan supply, while focus turned to potential U.S. tariffs on Canadian and Mexican imports. Brent crude futures were down 59 cents,

Commercial crude stockpiles rose by 3.5 million barrels. Analysts had predicted inventories would increase by 1.1 million barrels.