Oil prices slumped on Wednesday after fresh data showed rising crude and gasoline stockpiles in the United States in an indication of falling demand in the world's top energy consumer.
A persistent rise of the dollar this week also was dampening sentiment.
New York's main contract, light sweet crude for December delivery, fell by a hefty 2.09 dollars to end at 77.46 dollars.
London's Brent North Sea crude for December shed 2.06 dollars to 75.86 dollars a barrel.
Prices fell after the US Department of Energy said Wednesday that American gasoline reserves rose by 1.7 million barrels in the week ending October 23.
That indicated weakening energy demand in the United States and surprised traders because market expectations had been for a drop of 1.2 million barrels.
Stockpiles of distillates, which include diesel and heating oil, slumped 2.1 million barrels, which was heavier than analysts' consensus forecasts.
The department added that crude reserves climbed by 800,000 barrels, which undershot expectations of a 1.4-million-barrel gain.
