Oil falls to its lowest level in more than 3 months

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Oil falls to its lowest level in more than 3 months

On Wednesday, oil prices dropped to their lowest levels in over three months due to a significant increase in US crude supplies. Additionally, conflicting Chinese economic data has raised concerns about global demand for crude.

In early Asian trading, Brent crude futures dropped by 25 cents to $81.36 per barrel by 0001 GMT, while US crude futures fell by 35 cents to $77.02 per barrel. This marks their lowest levels since July 24.