Oil price falls

Oil prices fell on Thursday, after posting the largest decline in a month in the previous session, as US interest rate hike expectations offset the impact of drawdowns in US crude stockpiles.

Brent futures for November delivery were down 97 cents, or 1.04 percent, to $92.56 a barrel by 0809 GMT. US West Texas Intermediate crude (WTI) fell 97 cents, or 1.08 percent, to $88.69, the lowest since September 14. Both benchmarks had fallen more than $1 in trade earlier on Thursday.

"The Fed kept rates unchanged at yesterday's FOMC meeting, as widely expected. However, it was still seen as a hawkish pause, which put some pressure on risk assets" such as oil, said ING analysts in a client note.