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Oil ends lower despite sharp inventories decline, Fed's stimulus

(Xinhua)

09:35, September 22, 2011

NEW YORK, Sept. 21 (Xinhua) -- U.S. crude oil price ended lower on Wednesday despite sharp decline of U.S. weekly crude inventories and the Federal Reserve's new stimulus measures, as the stronger dollar pressured the crude prices.

Light, sweet crude for November delivery fell 1.00 dollars, or 1.15 percent to settle at 85.92 dollars a barrel on the New York Mercantile Exchange. In London, Brent crude for November delivery also dropped and last traded below 110 dollars a barrel.

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