LONDON: Oil prices fell further on Thursday as concerns eased that fresh Western sanctions on Russia over Ukraine would have an immediate impact on global crude supplies, analysts said.

US benchmark West Texas Intermediate (WTI) for September delivery slipped 70 cents to $99.57 a barrel.

Brent crude for September was down 15 cents at $106.36 in London midday trading.

WTI had fallen 70 cents in New York trade and Brent lost $1.21 in London on Wednesday despite upbeat US stockpiles.

The oil market has meanwhile mostly shrugged off better-than-expected official US gross domestic product and stockpiles data.

Published in Dawn, August 1st , 2014