The West Texas Intermediate for June delivery shed 2.13 U.S. dollars to settle at 63.36 dollars a barrel on the New York Mercantile Exchange. Brent crude for July delivery decreased 2.05 dollars to close at 66.66 dollars a barrel on the London ICE Futures Exchange.
U.S. crude oil inventories increased by 1.3 million barrels during the week ending May 14, the U.S. Energy Information Administration (EIA) said in a report on Wednesday. Analysts surveyed by S&P Global Platts had forecast the EIA publication to show a fall of 2.9 million barrels in U.S. crude supplies.
Oil also came under pressure amid a momentum in the U.S. dollar. The dollar index, which measures the greenback against six major peers, jumped 0.55 percent to 90.2418 in late trading on Wednesday. Historically, the price of oil is inversely related to the price of the U.S. dollar.
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