Oil prices decline on rising US crude stockpile

New York, Sep 1 (IANS) Oil prices fell as government data showed the US crude stockpile rose more than expected last week.

The West Texas Intermediate for October delivery on Wednesday lost $1.72 to settle at $44.70 a barrel on the New York Mercantile Exchange, while Brent crude for October delivery decreased $1.34 to close at $47.04 a barrel on the London ICE Futures Exchange, Xinhua news agency reported.