Oil falls on oversupply fears after build in U.S. crude stocks

Oil prices slid more than 1 percent on Wednesday, paring the previous day's gains, as a jump in U.S. crude inventories and surging COVID-19 cases raised fears of an oversupply of oil and weak fuel demand.In early Asia, Brent crudewas down 61 cents, or 1.5%, at $40.59 a barrel by 0033 GMT, having climbed nearly 2% the previous day.U.S. oilwas down 66 cents, or 1.7%, at $38.91 a barrel, after gaining 2.6% on Tuesday.