Crude prices continued to decline on Wednesday pressured by the API report of rise in crude supplies to 3.1 million barrels last week and disappointing durable goods orders data. New orders for long-lasting US manufactured goods unexpectedly fell for a second straight month in June, posting their largest decline since August. The overall trade remained cautious ahead of the US Energy Information Administration weekly oil inventory data on Thursday.
Benchmark crude for September delivery fell 41 cents, or 0.53 percent, to $77.09 a barrel, after trading in a range of $76.88 to $77.74 on the New York Mercantile Exchange. In
London Brent crude slipped 7 cents to settle at $76.06 a barrel on the ICE.
