Mubasher: Oil prices ended Wednesday’s trading session at its lowest level in two-and-a-half months, after data showed an increase in American crude inventories.

Nymex futures for December delivery fell by 87 cents or 1.3% to the level of $65.31 per barrel, registering monthly losses of nearly 11%.

Meanwhile, Brent went down by 0.6% to $75.47 a barrel.

This is the biggest monthly decline in oil prices in more than two years.

Rising concerns regarding production policies and a decline in global energy demand, were coupled an increase in crude oil inventories in the United States to contribute to the fall of prices by the end of October.