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International benchmarks for oil prices edged lower on Wednesday (24 August) after EIA report showed an unexpected increase in US commercial crude inventories, which revived the concern over the global supply glut. There are also several indications of a weaker global economy that could dampen commodity demand while the Iranian has denied of any intention to cap production output in the near term. All that have send shivers down to prices.

WTI closed at $46.77/barrel (-$1.33) September delivery

Brent closed at $49.05/barrel (-$0.91) October delivery