Crude oil futures settled lower on Wednesday amid concerns about the outlook for gasoline demand during the summer driving season.
Worries about interest rate hikes by central banks weighed as well on oil prices.
Reports about Canada's Keystone pipeline, one of the country's major oil export arteries, operating at reduced rates for a third day, helped limit oil's downside.
West Texas Intermediate Crude oil futures for August ended lower by $1.96 or about 1.9% at $102.26 a barrel on the expiration day.
The new front month contract, WTI futures for September settled at $99.88 a barrel, down $0.86 or about 0.9%.
Brent crude futures settled at $106.92 a barrel today, down $0.43 from the previous close.
Data from U.S. Energy Information Administration (EIA) showed crude inventories in the U.S. dropped by 446,000 barrels last week.
The data also showed U.S. gasoline stockpiles rose 3.5 million barrels last week, as against an expected increase of 71,000 barrels.
Data from the American Petroleum Institute on Tuesday showed U.S. stocks of crude rose by 1.86 million barrels during the week to July 15.
