Oil prices fell on Wednesday after industry data showed an unexpected build-up of U.S. crude inventories and as investors waited to see if a fresh round of U.S. tariffs on Chinese goods would come into force on Sunday.
Brent futures LCOc1 fell 48 cents to $63.86 per barrel by 1220 GMT, set for their biggest daily fall since December 2. West Texas Intermediate crude CLc1 slipped 36 cents to $58.88.
U.S. crude stocks clocked a surprise rise in the most recent week while gasoline and distillate inventories also rose, data from industry group the American Petroleum Institute shows.
Crude inventories rose by 1.4 million barrels in the week to December 6 to 447 million. Analysts were expecting a fall of 2.8 million barrels.
Government data from the weekly EIA report is due at 1530…