Oil prices drop, US crude falls for third day
Oil prices slipped on Wednesday, with US crude falling for a third day after an industry report that stocks at the Cushing delivery hub for the benchmark rose last week, shrugging off a drop in overall inventories.
Brent crude was down 15 cents, or 0.2%, at $61.44 a barrel by 0118 GMT after gaining 2 cents on Tuesday.
US West Texas Intermediate (WTI) crude was down 18 cents, or 0.3%, at $55.36 a barrel, having dropped 0.5% in the previous session.
Crude stocks at the Cushing, Oklahoma, delivery hub for WTI rose by 1.2 million barrels, the American Petroleum Institute (API), an industry group, said.
