Oil prices drop as bleaker fuel demand outlook weighs on market

Brent crude was down 4 cents, or 0.1%, at US$39.57 a barrel by 0642 GMT, while US West Texas Intermediate crude futures were down 2 cents, or 0.1%, at US$37.24 a barrel. Both contracts ended slightly lower the previous day.

"Brent and WTI are likely to stay between $35 and $40 a barrel until US demand for heating oil starts picking up as the peak driving season has ended," he said. Worries over an increase in global supply after Libyan commander Khalifa Haftar committed to ending a long-running blockade of oil facilities also dented risk appetite.

Concerns over supply disruptions in the United States from an impending storm also provided some price support.

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