The West Texas Intermediate for October delivery lost US$2.09, or 2.3 per cent, to settle at US$89.55; a barrel on the New York Mercantile Exchange.
Brent crude for October delivery decreased US$2.82, or 2.8 per cent, to close at US$96.49 a barrel on the London ICE Futures Exchange.
Xinhua reported prices continued to be pressured by fears that an inflation-induced economic slowdown would hurt fuel demand.
The US Energy Information Administration (EIA) reported Wednesday that the nation’s crude oil inventories decreased by 3.3 million barrels during the week ending Aug 26. Analysts surveyed by S&P Global Commodity Insights had expected a fall of 1.9 million barrels in US crude supplies.
According to the EIA, total motor gasoline inventories decreased by 1.2 million barrels last week, while distillate fuel inventories increased by 0.1 million barrels.
On Tuesday, both the US crude standard and Brent shed more than 5 per cent, as demand worries prevailed.
