Crude oil prices dipped in Asia

Investors eyed the latest industry crude and refined products stocks estimate data released late overnight in the U.S.

Industry group the American Petroleum Institute said that crude stocks fell fell 1.9 million barrels, while distillate stocks rose 4.3 million barrels last week in its weekly report on U.S. crude stockpiles.

A separate government report from the Energy Information Administration (EIA) on Wednesday could show that crude inventories fell mildly by 0.4 million barrels for the week that ended on July 24.

On the New York Mercantile Exchange, WTI crude for September delivery dropped 0.51% to $47.73 a barrel.
На Intercontinental Exchange (ICE), сорт Брент с доставка през септември се търгуваше в широк диапазон между $ 52.30 и $ 54.08, преди да се установи в 53.24.

At its current level, WTI crude futures are approaching March's yearly-low around $44 a barrel.
U.S. crude output, however, remains near 9.55 million barrels per day, near its highest levels in more than 40 years. Crude futures are down roughly 40% since the Organization of Petroleum Exporting Countries strategic decision in November to keep its production ceiling above 30 million bpd.