Oil prices pulled back from three-month highs on Wednesday as industry data showed a build in U.S. crude inventories and investors remained cautious ahead of an expected Federal Reserve rate hike later in the day.
Brent crude futures slipped 38 cents, or 0.45%, to $83.26 a barrel by 0623 GMT, while U.S. West Texas Intermediate crude was at $79.22, down 41 cents, or 0.51%.
"Whilst the market is largely expecting the Fed to hike rates today, any signals that they still have more to do after this would likely put some pressure on risk assets," said ING head commodities strategist Warren Patterson.
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