Oil settles lower amid US crude inventories data

Oil drilling rigs

Oil prices edged down on Wednesday, after government data showed US crude inventories fell.

 

US crude oil inventories decreased more than forecasts last week. Gasoline inventories also declined during the same period, data from the US Energy Information Administration (EIA) showed.

 

Brent crude for September delivery ended 0.2%, or 17 cents, lower at $79.46 a barrel.

 

US West Texas Intermediate (WTI) crude for August delivery inched down 0.5%, or 40 cents, to $75.35 a barrel.

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