India, March 19 -- Oil prices fell on Wednesday to extend losses from the previous session after industry data pointed to a build in U.S. crude stockpiles.
Brent crude futures fell 0.8 percent to $69.99 a barrel in European trading while WTI crude futures were down 0.9 percent at $66.17.
The American Petroleum Institute (API) reported that U.S. crude oil inventories rose by about 4.6 million barrels during the week ended March 14, despite a 1.1-million-barrel drop in Cushing crude oil inventories.
Analysts had forecast an increase of 1.170 million barrels. This sharp rise in crude inventories suggests that demand for crude has weakened even further over the week.
Gasoline stocks fell by 1.7 million barrels, while distillate stocks-inclu...