US crude inventories derail Brent prices

According to the US Department of Energy, US crude inventories rose 2.5 million barrels in the week. Gasoline inventories increased by 36,000 barrels to 232.7 million.

Brent for October settlement was 16 cents lower at $48.89 a barrel on the London-based ICE Futures Europe exchange. The contract dropped 1.8% to $49.05 on Wednesday.

WTI for October delivery was at $46.73 a barrel on the New York Mercantile Exchange, 4 cents lower, at 9:30 am.