I retreated Oil prices, today, Wednesday, by more than 1%, amid expectations of a rise in US oil stocks Which would increase the oil supply in the markets, at a time when fears of a global economic slowdown are increasing.
Brent crude futures fell 1.5 percent, or about $1.33, to $84.94 a barrel.
And US crude futures for November delivery fell 1.27%, or the equivalent of one dollar, to $ 77.33 a barrel.
The rise of the US dollar adds more pressure on crude oil, as it makes the commodity priced in the US currency more expensive for buyers, which weakens the demand for crude.
The American Petroleum Institute data released on Tuesday revealed that crude oil inventories rose by 4.1 million barrels in the week ending September 23, and distillate stocks rose by 0.4 million barrels, while gasoline stocks fell by 1.04 million barrels.
Investors are awaiting the release of official data from the US Energy Information Administration later today, with expectations of a 400,000 barrel increase in oil inventories.