Oil prices dipped this evening as official figures showed that crude stockpiles fell last week in the US, the world's biggest crude consumer. US crude eased 12 cents to $67.93 a barrel, while Brent North Sea crude fell seven cents to $67.66.
The US Department of Energy said the country's crude stockpiles fell by 400,000 barrels in the week to August 28, matching analysts' forecast. But analysts said crude reserves in the US remained at high levels despite the drop.
Oil prices were falling for a third day running after closing down almost $2 on Tuesday on investor concerns over the pace of economic recovery in the US and China, the world's top two energy users. Crude prices briefly hit $75 - the highest level in 10 months - last week, but soon fell back again as analysts questioned the strength of underlying demand.
