Oil prices fell below $74 a barrel today aided by rising stockpiles.

For October delivery, US crude dropped 22¢ to stand at $73.87 a barrel by 06.45 GMT, while London Brent crude fell 15¢ to $77.59, reports Reuters.

US crude inventories are expected to fall by 600,000 barrels, while stockpiles are forecast to increase by 700,000 barrels and petrol to drop 900,000 barrels.