Oil prices dropped today on Wednesday in Asia after the American Petroleum Institute (API) reported that U.S. crude stockpiles rose by 1.1 million barrels last week. Oil markets traded higher earlier this month after a U.S. drone strike killed top Iranian general Qassem Soleimani in Baghdad on Jan. 3, sparking fears of an all-out U.S.-Iran war.The API said crude inventories were up by 1.1 million for the week ended Jan. 10. For the forthcoming Energy Information Administration report, which is due later in the day, analysts are expecting a crude inventory decline of 750,000 barrels.