Oil dips as economic concerns offset

Singapore, Oct. 25 (BNA): Oil fell for a fourth day on Wednesday as concerns about slowing European demand offset.


Brent crude futures dropped 28 cents, or 0.3%, to $87.79 a barrel as of 0627 GMT.

While U.S. West Texas Intermediate crude futures were down 31 cents, or 0.4%, to $83.43 a barrel, Reuters reported.

U.S. inventories declined by about 2.7 million barrels in the week ended on Oct. 20, according to market sources citing American Petroleum Institute figures on Tuesday.


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