21.02.201814:43:00UTC+00Crude Oil Pauses Below $62 For Inventories

Crude oil futures inched lower Wednesday as traders locked in profits from oil's recent rally.

The American Petroleum Institute will release its weekly oil and petro stockpiles report this afternoon at 4:30 pm ET, a day behind schedule due to the President Day break.

The EIA releases the government's version tomorrow morning.

WTI light sweet oil was down 11 cents to $61.68 barrel.

The Federal Reserve is on track to raise interest rates gradually over the course of the year, according to the minutes of the central bank's most recent meeting.