London — Oil prices fell on Wednesday, weighed down by a rebound in the US dollar from three-year lows hit last week and by an expected rise in US crude production. Brent crude futures were last down 71c at $64.54 a barrel by 10.13am GMT, while West Texas Intermediate (WTI) crude futures fell 74c to $61.19 a barrel. The premium of Brent over WTI widened to almost $3.60 a barrel, having neared its narrowest in six months on Tuesday as concern about a bottleneck of Canadian crude imports underpinned US futures. "A sense of harmony has returned this morning with both crude benchmarks ploughing a southerly furrow as the dollar gains further ground," PVM Oil Associates analyst Stephen Brennock said. The dollar rose against other major currencies, buoyed by the rise in short-term US government bond yields, their highest in more than nine years and ahead of the release of the minutes of the US Federal Reserve’s most recent policy-setting meeting, which may signal the pace of any interest-r...
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