Manila, Nov. 19 -- Oil prices dropped on Wednesday with an estimated rise in US crude stocks and after a fruitless OPEC meeting that failed to meet investor concerns over a global supply glut amid weak global demand.
International benchmark Brent crude was trading at USD43.73 per barrel at 0700 GMT on Wednesday with a 0.05-percent decrease after closing Monday at USD43.75 a barrel.
American benchmark West Texas Intermediate (WTI) was at USD41.30 per barrel at the same time for a 0.07-percent decrease after ending the previous session at USD41.33 a barrel.
Oil prices dropped after the American Petroleum Institute (API) announced its estimate of a rise of 4.2 million barrels in US crude oil inventories relative to the market expectation of...