Oil prices wilt on surprise build-up in US crude stocks

Oil prices fell on Wednesday after industry data showed an unexpected build in crude inventory in the United States and as investors waited for news on whether a fresh round of US tariffs on Chinese goods would take effect on Sunday.

Brent futures fell by 44 cents, or 0.7 per cent, to $63.90 per barrel by 0342 GMT. US West Texas Intermediate crude slipped by 33 cents, or 0.6 per cent, to $58.91 a barrel, down from a more than two-month high reached on Tuesday.