Crude oil prices dropped with traders taking some profits after recent strong gains and looking ahead to weekly inventory reports.
Early on in the session gained on the hopes that OPEC and its allies may agree to extend an agreement to curb output in order to support prices.
OPEC oil output rose in August, gaining for the first month this year as higher supply from Iraq and Nigeria outweighed restraint by Saudi Arabia.
S&P Global Platts said it would launch new price assessments for U.S. crude for Asian buyers from Oct. 1, as the United States exports more oil to the East.
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