Oil falls on US crude build, security threat worries

Brent crude futures settled at US$81.60 a barrel, shedding, US$1.17, or 1.4%. US West Texas Intermediate (WTI) crude futures settled at US$76.64 a barrel, losing US$1.23, or a 1.6%.

NEW YORK: Oil futures sank by US$1 a barrel on Wednesday as surging US crude inventories pushed down prices and a possible security threat to the US that might dampen oil demand in the world's largest economy.

Brent crude futures settled at US$81.60 a barrel, shedding, US$1.17, or 1.4%. US West Texas Intermediate (WTI) crude futures settled at US$76.64 a barrel, losing US$1.23, or a 1.6%.