Brent crude futures for August dropped 84 cents, or 0.7 per cent, to $117.14 a barrel by 0444 GMT. The August contract will expire on Thursday and the more-active September contract was at $113.17, down 63 cents, or 0.6 per cent.
US West Texas Intermediate (WTI) crude futures slid 54 cents, or 0.5 per cent, to $111.22 a barrel.
Both contracts rose more than 2 per cent on Tuesday as concerns over tight supplies due to Western...