Black commodity trading remained low for the fourth day in a row this week, stressed by fears that a surge in coronavirus cases would weaken the recovery in global demand and oversupply in the market.
Brent crude futures traded down 41 sen to $ 41.36 a barrel, while the US WTI fell 52 sen to $ 39.41 a barrel.
In contrast to data from the American Petroleum Institute (API), a report published by the Energy Information Administration (EIA) showed a drop in the US crude oil supply of 1.6 million barrels last week.
This reading to some extent supports the crude oil trade from a lower decline.
However, the figure was lower than expected to decline by 2.3 million barrels and declined from the previous reading of 4.4 million barrels in the previous week.
In addition, data also showed that US fuel demand remained weak, with the average four-week petrol demand seen falling to 8.5 million barrels a day, down 9% from the previous year.
In terms of supply, the market remains wary of the return of Libyan oil production in the market although so far it is not clear how much will be produced. National Oil Company expects Libya's crude oil production to increase by more than 260,000 barrels a day next week.
