Oil settles lower on US fuel inventory builds

Brent crude settled down 66 cents, or 0.8%, to US$77.59. US West Texas Intermediate crude futures settled down 51 cents, or 0.7%, to US$72.19.

NEW YORK: Oil settled lower on Thursday in a choppy see-saw session, as massive weekly gasoline and distillate stock builds overshadowed a larger-than-expected crude stock draw.

Brent crude settled down 66 cents, or 0.8%, to US$77.59. During the session it both rose and fell over US$1. US West Texas Intermediate crude futures settled down 51 cents, or 0.7%, to US$72.19.