Oil prices decline on supply glut

New York, Sep 2 (IANS) Oil prices fell as increasing US crude stockpile spurred market concerns of supply glut.

The West Texas Intermediate for October delivery on Thursday lost $1.54 to settle at $43.16 a barrel on the New York Mercantile Exchange, while Brent crude for November delivery decreased $1.42 to close at $45.45 a barrel on the London ICE Futures Exchange, Xinhua news agency reported.