Crude oil futures fell Wednesday after U.S. government data showed a large increase in supplies last week.

Light sweet crude for April delivery dropped 93 cents to settle at $62.17 a barrel on the New York Mercantile Exchange.

In its weekly supply report, the Energy Department said crude oil inventories rose by 4.8 million barrels last week to 339.9 million barrels, or 10 percent above year ago levels.