Oil prices fall despite drop in U.S. inventories

NEW YORK, Aug. 31 (Xinhua) -- Oil prices fell on Wednesday despite a drop in U.S. crude stockpiles.

The West Texas Intermediate for October delivery lost 2.09 U.S. dollars, or 2.3 percent, to settle at 89.55 dollars a barrel on the New York Mercantile Exchange. Brent crude for October delivery decreased 2.82 dollars, or 2.8 percent, to close at 96.49 dollars a barrel on the London ICE Futures Exchange.