WTI edges higher on speculation U.S. crude inventories fell more than expected

West Texas Intermediate oil futures edged higher on Wednesday, amid speculation weekly supply data due later in the session will show U.S. crude inventories fell at a faster pace than expected last week.

Nymex crude oil for August delivery added 10 cents, or 0.17%, to trade at $60.55 a barrel during European morning hours, compared with yesterday's $60.45 at the end of the session.

On the ICE Futures Exchange in London, Brent oil for August delivery added 10 cents, or 0.16%, to trade at $63.81 a barrel. A day earlier, Brent futures lost 25 cents, or 0.39%, to close at $63.70.

The government report due later in the day is expected to signal that last week U.S. crude oil stockpiles dropped by 1.7 million barrels, while gasoline stockpiles are expected to decline by 0.3 million barrels.

Yesterday the American Petroleum Institute reported that U.S. crude inventories dropped by 2.9 million barrels in the week ended June 12, the second straight weekly decline.

Elsewhere, European markets were lower as investors are nervous about the Greek uncertainties.

The Stoxx Europe 600 index slid 0.1% to 385.03, paring back after a 0.6% rise on Tuesday.

Greece’s Athex Composite Index climbed 0.8% to 708.77, heading back after three straight sessions in the negative territory.

Germany’s DAX 30 index was flat around 11,044.48.

France’s CAC 40 index dipped 0.1% to 4,831.45.

The U.K.’s FTSE 100 index hugged the flatline at 6,710.29.

EUR/USD was slightly higher adding 0.18% to 1.1267.