Oil hits 2016 highs, pares gains on U.S. oil inventory data

By Barani Krishnan NEW YORK (Reuters) - Crude futures rose for a third consecutive day on Wednesday, hitting 2016 highs above $50 (£34) a barrel on supply outages led by the sabotage of oil facilities in Nigeria, before paring gains as glut concerns resurfaced after U.S. data showed a surprise build in gasoline supplies. U.S. crude stocks fell for the third consecutive week to June 3, sliding by 3.2 million barrels versus analysts' expectations for a 2.7 million-barrel drawdown, government