WTI trades $0.40 higher, with Brent $0.30.......>

OIL: WTI trades $0.40 higher, with Brent $0.30 better off, even with reports

pointing to a larger than expected headline crude inventory build in the latest

API inventory estimate. The reports also suggested that gasoline stocks provided

a surprise build, distillate stocks exhibited a larger drawdown than expected,

while stocks at Cushing rose.

- Crude settled lower on Tuesday, weighed on by broader risk-off flows and Iran

suggesting that it is close to an oil sales deal with the EU. Focus now moves to

the Gulf state's actions regarding the nuclear pact it signed back in 2016, with

Iranian foreign minister Zarif noting that the country will reduce some

"voluntary" commitments within the framework.

- DoE inventory data will also hit later today.