Commodities Oil prices drop as data shows surprise climb in US inventories Updated : August 14, 2019 08:10 AM IST Brent crude was down 35 cents, or 0.6 percent, at $60.95 a barrel at 0116 GMT, after rising 4.7 percent on Tuesday, the biggest percentage gain since December. US oil was down 46 cents, or 0.8 percent, at $56.64 a barrel, having risen 4 percent the previous session, the most in just over a month. China's commerce ministry said in a statement on Tuesday that US and Chinese trade officials spoke on the phone and agreed to talk again within two weeks. Subscribe to Moneycontrol PRO at just Rs.33/- per month for the first year. Use code SUPERPRO. Limited period offer. Available on Web and Android.