The US Energy Information Administration reported today that crude inventories fell 3.2 million barrels to 482.2 million during the past week, on par with forecasts.

Gasoline stocks rose 4.4 million to 245.4 million barrels, and distillate stocks rose 4.8 million to 163.2 million barrels.

While the American Petroleum Institute (API) revealed yesterday in preliminary data that the US crude inventories fell 5.8 million barrels during the same period.

US stock indices opened lower on Wednesday, despite positive economic data, as Wall Street is focusing on the latest political developments.

Democrats in the US Congress are pushing to impeach President Donald Trump and called on Vice President Mike Pence to invoke the 25th Amendment to remove Trump, but Pence dismissed this step.

Trump described the House of Representatives and its speaker Nancy Pelosi's attempts as unacceptable and ridiculous, adding that the country could be face instability if gets removed from office.

Data showed today that the US consumer price index rose in by 0.4% during December.

As for stocks, Dow Jones fell 0.2% or 135 points to 31,016 as of 15:07 GMT, and S&P 500 fell 0.2% or 6 points to 3,795, while Nasdaq held at 13,073.

The US dollar rose against a basket of major currencies on Wednesday, to resume its gains after pausing yesterday due to profit-taking from 3-week high, ahead of the US inflation data for December.

The dollar index rose more than 0.3% to 90.32 points, after opening at 90.00 points, with an intraday low of 89.92 points.

The greenback fell 0.4% yesterday, its first daily loss in 5 days due to profit-taking from 3-week high 90.73 points.

The dollar's uptrend comes as the 10-year treasury yields jumped above the 1% barrier for the first time since March, and hit a 10-month high of 1.184%.

This came after the Congress ratified Democratic candidate Joe Biden's election victory, the Democrats' control over the Senate alongside the House of Representatives, as they intend to inject massive stimulus packages to help the economy recover from the coronavirus pandemic. 

At 13:30 GMT, the US consumer prices are expected up 0.4% in December, while core prices are expected up 0.1%.

At 13:30 GMT, the US economy released its reading of the consumer price index for December at 0.4%, in line with forecasts, and better than the previous reading of 0.2%.

The consumer price index core reading (excluding food and fuel prices) was at 0.1%, in line with forecasts, but lower than the previous reading of 0.2%.