Oil prices fell $2 a barrel in New York trade on Wednesday after government data showed a large surprise build in crude oil inventories last week versus traders' bets for a stockpile drop.
Benchmark Brent crude's front-month contract was down $2.10 at $59.59 a barrel by 10:35 a.m. ET (1535 GMT) after a session low at $59.37. Front-month U.S. crude slipped $1.85 to $55.27, after a session bottom at $55.07.
Crude inventories rose by 7.3 million barrels in the last week, compared with analysts' expectations for an decrease of 2.3 million barrels, datafrom the Energy Information Administration showed.
(Reporting By Barani Krishnan)
Reuters
