Oil prices were little changed on Wednesday after the Federal Reserve said that the central bank will keep interest rates steady.

Brent crude futures were down 29 cents, or 0.47 percent, to $61.85 a barrel.U.S. West Texas Intermediate crude settled down 14 cents, or 0.3 percent, to $53.76 a barrel. On Tuesday, it had recorded its biggest daily rise since early January.

Government data showed U.S. crude inventories fell more than expected, while the prospect of a trade deal between Washington and Beijing also supported prices.

After weeks of swelling, U.S. crude stocks fell by 3.1 million barrels in the last week compared with analysts' expectations for a draw of 1.1 million barrels, the Energy Information Administration said.

Source : CNBC