Oil prices declined today as industry data showed a rise in crude and fuel inventories in the US and as the US dollar strengthened, signalling that demand for oil is coming under pressure.

The Brent Crude Oil futures was down by 0.85 per cent to trade at 82 dollar and 45 cents, whereas West Texas Intermediate was lower by 0.91 per cent at 77 dollar and 67 cents when reports last came in.