Oil prices slipped on Wednesday, as a slump in U.S. crude stockpiles was offset by a larger-than-forecast rise in gasoline inventories and as U.S. crude output continued to grow. Front-month U.S. West Texas Intermediate crude futures fell 1.36 percent at $56.67 a barrel. Front-month Brent crude futures tumbled 1.69 percent to $62.78 a barrel. The spread between the two benchmarks stood at $6.11 a barrel.

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