Crude oil futures declined on Wednesday as focus shifted away from escalating political tension in the Middle East.
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Brent edged down 76 cents at $45.36 a barrel, while the US West Texas Intermediate (WTI) futures declined 61 cents to $42.26 a barrel, Reuters reported.
Data released by the American Petroleum Institute (API) highlighted an increase in the US crude inventories by 2.6 million barrels in the week to 20 November.
The Organization of the Petroleum Exporting Countries (OPEC) decided to keep production at peak levels despite the financial strain on member country Saudi Arabia.
Saudi Arabia is anticipating that prices may fall further and could head towards $20.
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By GlobalDataOn Tuesday, Turkish F-16s shot down a Russian warplane near the Syrian border after repeatedly warning its pilots that they were violating the country’s airspace.
Russian President Vladimir Putin said that the plane had been attacked inside Syria and warned of "serious consequences."
US President Barack Obama and French President Francois Hollande urged against an escalation of tension and also pressed Russia to focus its attacks in Syria on Islamic State militants.
