Oil prices dropped below $77 as Enbridge prepared to restart the Canada-US crude pipeline.

For October delivery US crude fell 45¢ to stand at $76.35 a barrel by 06.59 GMT today, while London Brent crude remained at $79 a barrel.

Data from the American Petroleum Institute revealed crude inventories rose by 3.3 million barrels last week, while petrol dropped by 963,000 barrels and distillates fell by 1.5 million barrels.

Enbridge said it was near to completing repairs on the duct and might be able to restart the line without submitting to a lengthy formal approval process from US regulators, reports Reuters.