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8/10, 8:55 AM (Source: TeleTrader)
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Crude prices drop after US inventories data

Crude oil prices dropped on Wednesday after the United States revealed an increase in the country's oil inventories, as concerns about supply on the global markets continue to grow.

Previously, private data from the American Petroleum Institute (API) reportedly indicated a jump of 2.16 million barrels in the week earlier, while the reserve in Cushing, Oklahoma, purportedly increased by 910,000 barrels.

West Texas Intermediate (WTI) for settlements in September slipped by 1.23%, going to $89.39 per barrel at 2:32 am ET. Brent for settlements in October dipped by 0.91% at 2:41 am ET, going by $95.51 per barrel.

Baha Breaking News (BBN) / AB