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Oil: an overview of the market situation
Сrude oil fell after supplies rose at Cushing, Oklahoma, the contract's delivery point. Brent slipped to a one-month low amid signs Libyan oil exports will gain.
Cushing stockpiles rose by 447,000 barrels to 20.9 million last week, Energy Information Administration data showed. Total inventories dropped 2.37 million barrels to 382.6 million.
Libya plans to gradually boost exports to avoid disrupting the market, said Samir Kamal, the nation's governor to the Organization of Petroleum Exporting Countries.
WTI for August delivery dropped to $102.47 a barrel (-1.4%) on the New York Mercantile Exchange.
Brent for August settlement fell to $108.49 a barrel (-0.35%) on the London-based ICE Futures Europe exchange.
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