NEW YORK, July 20 (Xinhua) -- Oil prices settled lower on Thursday as investors awaited a meeting of world's major oil producers in Russia next week.

The West Texas Intermediate for August delivery lost 0.33 U.S. dollar to settle at 46.79 dollars a barrel on the New York Mercantile Exchange, while Brent crude for September delivery erased 0.4 dollar to close at 49.30 dollars a barrel on the London ICE Futures Exchange. Enditem