Oil edges lower after U.S. crude and gasoline build - Reuters

Oil edges lower after U.S. crude and gasoline build - Reuters:

Oil eased on Wednesday after a report showing U.S. crude inventories grew unexpectedly last week and gasoline stocks surged, but losses were limited by optimism that a U.S.-China trade deal would be reached soon.

Brent crude futures LCOc1 fell 34 cents, or 0.5%, to $63.93 a barrel by 1:14 p.m. EST (1814 GMT). U.S. West Texas Intermediate crude CLc1 fell 34 cents, or 0.8%, to $57.93 a barrel.

WTI trade volumes were also on track to be lower for the week ahead of the U.S. Thanksgiving holiday.

U.S. crude stocks swelled by 1.6 million barrels last week as production hit a record high at 12.9 million barrels per day and refinery runs slowed, the Energy Information Administration said. Analysts in a Reuters poll had forecast a drop of 418,000 barrels.