Oil wiped out an earlier decline as sentiment firmed in wider markets, with crude gradually recovering from a rout earlier in the week. West Texas Intermediate futures added 0.3%, reversing a decline of as much as 1.1%. That comes after a 7.3% drop Monday as concerns grow about the wider economic impact of the continued spread of the delta coronavirus variant across the globe. European equities climbed for a second day and U.S. index futures were mixed. Oil was pushed lower earlier Wednesday after the American Petroleum Institute was said to report an 806,000 barrel gain in U.S. crude inventories . If confirmed by official data, that would be the first increase since May At the same time, the API also reported what could be the largest drop in stockpiles at the key pricing point of Cushing, Oklahoma since March.