West TX Oil Drops to $92 on Demand Concerns

U.S. crude futures held near a 16-month low below $92 a barrel on Thursday, after falling sharply in the previous session on lower OPEC demand forecasts and a jump in U.S. refined product stocks.

U.S. crude for October delivery edged up 11 cents to $91.78 as of 0036 GMT after falling $1.08 to settle at $91.67 a barrel in the previous session. The contract touched $91.22 at one point, the lowest since May 2, 2013.

Brent crude was unchanged at $98.04 after settling $1.12 down in the previous session. It fell to an an intraday low of $97.60, the lowest price since April 18, 2013.

CNBC

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