Oil prices drop, US falls for 3rd day as Cushing stocks rise
TOKYO: 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 per cent, 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 per cent, at $55.36 a barrel, having dropped 0.5 per cent in the previous session.
