Oil prices trimmed earlier losses this evening due to a fall in US inventories, while the recovery prices was limited by the potential re-opening of the biggest Canada-US crude pipeline.
US crude was trading $1.19 lower at $75.61 a barrel, having fallen more than $2 earlier. Brent dipped by 40 cents to $78.76.
Crude oil inventories in the US, the world's top oil consumer, fell 2.49 million barrels in the week to September 10, mostly in line with analysts' forecast, weekly data from the Energy Information Administration showed.
Meanwhile, Canada's Enbridge, which has been hit by three pipeline outages since July, said repairs on its US-bound 6A oil pipeline were completed yesterday. The pipeline operator does not know when it will receive permission from federal regulators to restart the pipeline.
A report signalled the restart may come by the end of the week.
