TEMPO.CO, Jakarta - Global oil price drops following investor's concern of over-supply. United States reference, the West Texas Intermediate (WTI) for September shipment dropped US$1.06 at US$ 43.13 per barrel in the New York Mercantile Exchange, the lowest in 3 months.
In London, Brent North Sea for September shipment reached the lowest since May; dropping 97 cents at US$44.72 per barrel.
The Energy Information Agency of the United States have reported that crude oil supply has actually lowered, but fuel supply has jumped at the same time - increasing 911,000 barrels last week only.
Analysts have also said that dollar rebound has given pressure to oil supply, thus the price remains high.
United States new operating oil rigs have also sparked concern that the over-supply will last for some time.
ANTARA