Oil prices on Thursday shed some of the prior day’s gains after a report showed a bump upward in U.S. crude inventories.
Benchmark oil for November delivery was down 41 cents to $103.69 per barrel at midday Bangkok time in electronic trading on the New York Mercantile Exchange.
A report from the American Petroleum Institute showed an increase in oil supplies for the week ending Sept. 27. Stocks rose by 356,000 barrels to 363.7 million barrels from the prior week, suggesting a weakening in demand.
Brent crude, a benchmark used to price imported crude used by many U.S. refineries, fell 25 cents to $108.94 in London.