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Why the Brent crude oil price is down today, July 22, 2015: The Brent crude oil price and WTI crude oil price dipped lower today (Wednesday) after an unexpected rise in U.S. reserves. The supply data adds to the worldwide glut that has deflated prices over the last year.
By 12:45 p.m., the Brent crude oil price was down 1.07% to $56.43 a barrel. The international benchmark has fallen 0.4% this week and 9.7% so far this month.