Stocks pared losses and the S&P 500 index briefly turned positive on Wednesday as energy shares gained after a government oil inventory report showed a huge drop in crude supplies last week.

The Dow Jones industrial average <.DJI> dropped 10.20 points, or 0.11 percent, to 9,207.74. The Standard & Poor's 500 Index <.SPX> dropped 0.50 points, or 0.05 percent, to 989.17. The Nasdaq Composite Index <.IXIC> dropped 4.11 points, or 0.21 percent, to 1,951.81.

(Reporting by Edward Krudy; Editing by Padraic Cassidy)