Oil prices extended losses on Wednesday after government data showed U.S. crude stocks rose unexpectedly last week, while gasoline and distillate inventories fell more than expected.
U.S. commercial crude inventories rose by 1.6 million barrels in the week to March 23, the Energy Information Administration said on Wednesday . Analysts in a Reuters poll had expected a decrease of 287,000 barrels.
Stocks at the closely-watched Cushing, Oklahoma delivery hub for U.S. crude also rose by 1.8 million barrels, EIA said.
U.S. West Texas Intermediate futures fell $1.33, or 2 percent, to $63.92 a barrel.