Oil falls after three-day rally on larger-than-expected U.S. crude build - Reuters

Oil falls after three-day rally on larger-than-expected U.S. crude build - Reuters:

Oil prices fell on Wednesday, pulled down by a larger-than-expected build in U.S. crude stocks, after gaining for three sessions on expectations of an easing in U.S.-China trade tensions.

Brent crude futures LCOc1 stood at $62.58 a barrel by 0738 GMT, down 38 cents, or 0.6%. Brent settled up 1.3% on Tuesday.

U.S. West Texas Intermediate (WTI) crude CLc1 futures fell 30 cents, or 0.5%, to $56.93 per barrel, having closed up 1.2% in the previous session.

U.S. crude inventories rose by 4.3 million barrels in the week ended Nov. 1 to 440.5 million barrels, according to data from the American Petroleum Institute (API) released on Tuesday. That was nearly triple analysts’ forecast for an increase of 1.5 million barrels.