LONDON, Oct 17: World oil prices fell on Wednesday as traders reacted to a far bigger-than-expected surge in crude inventories in top global consumer the United States, traders said.

Brent North Sea crude for delivery in December dropped $1.02 to $112.98 a barrel in London late afternoon deals.

New York’s West Texas Intermediate (WTI), or light sweet crude for November delivery, sank 22 cents to $91.87 a barrel.

The US government’s Department of Energy announced that American oil stockpiles rallied by 2.86 million barrels in the week ending Oct 12.—AFP