Oil fell on Wednesday, snapping a two-day rebound and heading back toward 11-year lows after U.S. government data showed a huge build in crude inventories, surprising market players who had expected a draw. Expectations of a U.S. interest rate hike from the Federal Reserve later in the day also weighed on sentiment in oil and other dollar-denominated commodities. Higher U.S. rates should support a strong dollar, making oil costlier for holders of the euro and other currencies.