Oil down on Wednesday

Oil closed down on Wednesday, although the United States announced a reduction in reserves and production.

In new York, the WTI barrel for delivery in September dropped 89 cents, at 55.88 dollars while in London the Brent of the North Sea for the same date declined 65 cents, to 63.18 dollars.

Prices were high until the United States announced their oil and derivatives reserves.

John Kilduff said the price drop was not due to any specific circumstance and considered it surprising.

"I imagine some market players wanted to make the profits," said Kilduff.

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