New York City ? Oil prices stalled in their climb toward $100 a barrel Wednesday after a government report said oil inventories fell less than expected last week while refinery utilization remained flat.

Oil investors largely viewed the report as neutral in that it confirmed a view that oil supplies are falling, but offered no real surprises. A larger than expected drop would most certainly have propelled oil past $100 a barrel for the first time.

Light, sweet crude for December delivery fell 33 cents to settle at $96.37 a barrel on the New York Mercantile Exchange. Before the report’s release, prices rose as high as $98.62, a new record.

At the pump, meanwhile, the national average price of a gallon of gas rose 1.9 cents overnight to $3.043, according to AAA and the Oil Price Information Service. Prices are up nearly 29 cents since mid-October and are 85 cents higher than a year ago.