Singapore — Oil markets dipped on Thursday, weighed down by rising crude inventories and production in the US as well as a stronger dollar, which potentially hampers fuel consumption by holders of other currencies. Brent crude futures, the international benchmark for oil prices, were at $56.18 a barrel at 4.38am GMT, down 11c or 0.2% from their last close. US West Texas Intermediate (WTI) crude futures were at $50.67 a barrel, down 2c from the last settlement. Traders said that a strengthening dollar had weighed on Brent while rising crude stocks and production in the United States had weighed on WTI. US commercial crude oil inventories rose for a third straight week, building by 4.6-million barrels in the week ending September 15, to 472.83-million barrels. Meanwhile, US oil production has largely recovered from the shutdowns following Hurricane Harvey, currently standing at 9.51-million barrels a day, up from 8.78-million barrels a day directly after the storm hit the US Gulf Coas...
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