On Thursday, oil prices continued to decline, with the fall of the American standard to a one-week low after data showed that national inventories rose last week to a record high.
WTI crude oil for May delivery traded on the New York Mercantile Exchange fell 49 cents, or 1.23%, to $ 39.30 per barrel after a session low of $ 39.17, its lowest level from March 16.
A day earlier, the price of oil on the Nymex fell $ 1.66, or 4.0%, after the release of disappointing data on stocks.
According to the US Energy Information Administration, the overall level of crude oil inventories rose last week by as much as 9.4 million barrels to a record 532.5 million, underlining fears of oversaturation.
Since February 11, when futures fell to a 13-year low of $ 26.05, US crude prices have returned about 45%, as the reduction of oil shale oil production has improved the mood in the United States.
However, analysts warn that the market conditions remain poor due to the continuing surplus in crude oil reserves in the US, which is currently held at a record level of more than 520 million barrels.
On the ICE exchange in London, Brent crude for May delivery fell 31 cents or 0.77% to a one-week low of $ 40.16 per barrel. On Wednesday, Brent crude oil futures tumbled $ 1.32, or 3.16%.
OPEC and its member exporters are scheduled to meet in Doha on 17 April to discuss plans to freeze production. But it is unclear what kind of and how many members of OPEC and outside the organization countries will be present at this meeting.
With the fall of the price of Brent on February 11 under $ 30 per barrel, futures managed to recover about 45%. Short covering was launched in mid-February after OPEC members - Saudi Arabia, Qatar and Venezuela - have agreed to the non-OPEC Russia to freeze production at the January level, with the condition that the other exporting countries will also join them.
Meanwhile, today the spread between the Brent oil and WTI brands is $ 0.86 per barrel compared with $ 0.68 at the close of the previous session.