Oil pares gains on bigger-than-expected U.S. crude build

By Jessica Resnick-Ault NEW YORK (Reuters) - Oil pared gains on Wednesday after weekly U.S. supply data suggested a crude glut may persist, despite signs that Russia and OPEC producers are delivering on promised supply reductions. Brent crude was up 55 cents at $56.13 a barrel at 10:57 a.m. EST (1557 GMT), having risen as high as $56.24. U.S. crude stockpiles for the week ended Friday rose 6.47 million barrels, nearly double the expected increase.