Oil prices fell on Thursday after concerns about weak demand in China, the world's largest crude importer and expectations of a close Middle East ceasefire erased gains in the previous session after falling U.S. inventories.
Brent crude futures for September delivery fell September 38 cents, or 0.5 percent, to $81.33 a barrel. U.S. West Texas Intermediate crude futures fell 33 cents, or 0.4 percent, to $77.26 a barrel.
Oil prices rose on Wednesday after the U.S. Energy Information Administration revealed U.S. crude inventories fell by 3.7 million barrels last week, versus analysts polled by Reuters expected a drop of just 1.6 million barrels.
Source (Al-Arabiya.net Website, Edited)
