Crude oil futures settled lower on Thursday as traders took a cautious approach after US Federal Reserve hinted a slowdown in the US economy. Besides, they overlooked the data released by US Energy Information Administration and American Petroleum Institute indicating a decline in crude oil inventory. The US Energy Information Administration data has showed that crude oil stocks in the US decreased by 9.285 million barrels for the week ending September 12. Meanwhile, data from American Petroleum Institute has revealed that US crude oil inventories fell by 3.42 million barrels for the week ending September 12.
Benchmark crude oil futures for October declined $0.48 or 0.75% at $63.57 a barrel on the New York Mercantile Exchange. Brent crude for November delivery decreased $0.51 or 0.75% to settle at $67.44 a barrel on London's Intercontinental Exchange.
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