Oil prices dip before US data

Oil prices dipped on Wednesday as markets awaited data on US crude inventory levels for clues on the state of demand in the world's biggest economy. US benchmark West Texas Intermediate for delivery in June fell 32 cents to $56.74 a barrel compared with Tuesday's close. Brent North Sea crude for June delivery eased two cents to stand at $64.62 in London afternoon deals. The US Department of Energy (DoE) will release its weekly stockpiles report later Wednesday.