Oil trades lower, in line with weaker Asian markets

Crude oil prices edged lower in Asia on Thursday amid continued oversupply in the oil market and as shares in China and Japan fell.

On the New York Mercantile Exchange, light, sweet crude futures for delivery in October CLV5, -0.16%  traded at $43.70 a barrel, down $0.31 in the Globex electronic session. October Brent crude on London’s ICE Futures exchange LCOV5, -0.59%  fell $0.54 to $47.04 a barrel.

The Shanghai Composite Index SHCOMP, -1.77%  was last down about 1%, despite better-than-expected China inflation figures. Japanese stocks reversed sharp day-earlier gains, with the Nikkei Stock Average NIK, -2.51%  off 3.1%. It rose 7.7% on Wednesday.

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