Oil prices dip after brief rebound

London - Oil prices eased on Wednesday after the previous day's modest rebound and ahead of US energy stockpiles data offering an insight into crude demand across the world's biggest economy.

US benchmark West Texas Intermediate (WTI) for delivery in November fell 16 cents to $45.07 a barrel compared with Tuesday's close.

Brent North Sea crude for November delivery dipped 5c to stand at $48.18 a barrel in London afternoon deals.

Both contracts closed higher on Tuesday after sinking on Monday as investors track data also out of top energy consumer China.

Markets were awaiting Wednesday's release of official US commercial crude stockpiles data for the week ending September 25.

The report is a closely watched gauge for demand in the world's top oil consuming nation.

Analysts expect the report to show a reduced amount of stockpiles, in part owing to an anticipated drop in US crude production.

Traders are meanwhile concerned about China's economic slowdown because of its impact on demand for raw materials, including oil.