Oil prices dropped close to $76 a barrel today.

For November delivery US crude fell 65¢ to stand at $75.87 a barrel at 06.46 GMT, while London Brent crude was down 67¢ to $77.90, reports Reuters.

Crude oil stockpiles are expected to fall by 400,000 barrels, with distillate and petrol supplies to gain by 300,000 barrels and 700,000 barrels, respectively.