Oil slips after US inventories data

Oil prices fell on Wednesday, after data showed a build in the US crude inventories.

The Energy Information Administration reported today that the US crude inventories rose 1 million barrels to 434 million barrels during the past week, while analysts forecast a drop by 1.7 million barrels.

While the American Petroleum Institute reported yesterday in preliminary data that the US crude inventories rose 2.3 million barrels during the same period.

The dollar index rose against a basket of major currencies by 0.4% to 96.8 points as of 17:10 GMT, after hitting a high of 96.9 points and a low of 96.4 points.

As of 18:35 GMT, WTI December futures fell 0.3% to $78.2 a barrel.

Brent January futures fell 0.3% to $82.02 a barrel.