Oil prices have dropped 1% ahead of an expected interest rate rise in the United States

Brent crude futures for August were down $1.04, or 0.9%, at $120.13 a barrel by 11:00 GMT, having fallen as low as $119.26 earlier in the session.
West Texas Intermediate crude for July fell 1.56, or 1.3%, to $117.46 a barrel, after dropping to a low of $116.60.

Data showed a build in U.S. crude stocks and distillate inventories, while gasoline posted a surprise drawdown.
But persistent concerns about tight supply meant oil prices were still holding near $120 a barrel.

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