Oil prices eased in Asia Wednesday as dealers stood on the sidelines awaiting the latest US stockpiles report for clues about demand in the world's top crude consumer, analysts said.
US benchmark West Texas Intermediate for September delivery fell six cents to $100.91 and Brent crude for September was down 34 cents at $107.38 in late-morning trade.
"Oil prices are quiet at the moment with investors focusing on the US stockpiles data out later in the day," David Lennox, resource analyst at Fat Prophets in Sydney, told AFP.
Reserves are expected to have fallen by 1.8 million barrels on average in the week to July 25, according to analysts polled by the Wall Street Journal.
Gasoline stockpiles are expected to have risen 800,000 barrels, while stocks of distillates, which include heating oil and diesel, are also expected to have increased by one million barrels.
Refinery use is expected to fall by 0.2 per centage points to 93.6 per cent of capacity.
US benchmark West Texas Intermediate for September delivery fell six cents to $100.91 and Brent crude for September was down 34 cents at $107.38 in late-morning trade.
"Oil prices are quiet at the moment with investors focusing on the US stockpiles data out later in the day," David Lennox, resource analyst at Fat Prophets in Sydney, told AFP.
Reserves are expected to have fallen by 1.8 million barrels on average in the week to July 25, according to analysts polled by the Wall Street Journal.
Gasoline stockpiles are expected to have risen 800,000 barrels, while stocks of distillates, which include heating oil and diesel, are also expected to have increased by one million barrels.
Refinery use is expected to fall by 0.2 per centage points to 93.6 per cent of capacity.
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