Oil prices fell on Wednesday after a much larger-than-expected build in U.S. crude inventories and after Reuters reported that the signing of a U.S.-China trade deal could be delayed until December.

The decline reversed the gains of the previous three sessions.

Brent crude fell $1.22, or 1.9%, to settle at $71.74. West Texas Intermediate crude lost 88 cents, or 1.5%, to settle at $56.35 per barrel.

Prices extended losses after Reuters reported that a meeting between U.S. President Donald Trump and Chinese President Xi Jinping to sign a long-awaited interim trade deal could be delayed until December as discussions continue over terms and venue.

Source: CNBC