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Oil falls for third day as doubts over OPEC cuts linger

Reuters  |  TOKYO 

By Aaron SheldrickTOKYO (Reuters) - Crude futures fell for a third day on Wednesday despite a bigger than expected drop in U.S. oil inventories reported by an industry group, with doubts lingering over OPEC's ability to restrain supply as promised.Benchmark Brent crude was down 27 cents, or 0.5 percent, at $51.87 a barrel at around 0630 GMT. In the previous session, it settled down 0.4 percent. U.S. West Texas Intermediate (WTI) crude was down 21 cents, or 0.4 percent, at $48.96 a barrel, after falling 0.4 percent on Tuesday. Crude stockpiles in the U.S. dropped more than expected last week ...

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First Published: Wed, August 09 2017. 13:02 IST
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