Shafaq News/ Oil prices fell 1 % on Thursday after sector data showed a larger-than-expected rise in US crude reserves, although losses were curbed by comments by US Treasury Secretary, Stephen Mnuchin on a US-China trade deal.

Brent crude futures were down 57 cents, or 1 %, at $ 58.85 a barrel by 0629 GMT.

US West Texas Intermediate (WTI) crude futures were down 56 cents, or 1%, at $ 52.80 a barrel.

US crude oil reserves rose 10.5 million barrels to 432.5 million barrels in the week ending October 11, according to the weekly report of the American Petroleum Institute, published ahead of official inventory data due on Thursday.