Oil prices fell at settlement in Wednesday's trading, coinciding with the rise in crude oil inventories, and the decline in gasoline and distillate inventories during the past week.

Brent crude futures fell by 60 cents, or 0.78 percent, at settlement, to reach $76.58 a barrel.

West Texas Intermediate crude futures also fell by 33 cents, or 0.45 percent, to reach $73.24 a barrel at settlement.

The US Energy Information Administration revealed today an increase in crude oil inventories, and a decrease in gasoline and distillate inventories during the past week.

The administration stated that crude inventories increased by about 5.8 million barrels, to reach 422.7 million during the week ending Oct. 4, compared to expectations of an increase of about two million barrels.

US gasoline inventories fell by 6.3 million barrels during the week, reaching 214.9 million, compared to expectations of a decline of 1.1 million barrels.

Source: Qatar News Agency