Oil Slips 0.4%

Oil prices declined on Wednesday off three-month highs as industry data showed a stock build in US crude inventories and investors remained cautious ahead of a likely Fed rate hike.

Brent crude futures slipped 32 cents, or 0.4%, to $83.32 a barrel. US West Texas Intermediate (WTI) crude was at $79.35 a barrel, down 28 cents, or 0.4%.

US crude stocks rose by about 1.32 million barrels in the week ended July 21, according to market sources citing American Petroleum Institute figures on Tuesday.

US government data on inventories is due Wednesday.

Source: Qatar News Agency