Investing.com - Crude oil prices were lower on Thursday as oversupply and high inventories ensured an ongoing supply glut.
U.S. crude was down 0.85% to $41.60 a barrel, while Brent futures slid 0.39% to $43.99 at 7.53 AM Eastern Time.
Oil markets remain oversupplied, with rising U.S. stockpiles the most visible evidence.
U.S. crude inventories rose to 487.3 million barrels last week, near record highs, the Energy Information Administration said Wednesday.
The oil market has been on the defensive in recent months amid uncertainty about how quickly the global glut of crude is set to shrink.