The recorded strengthening of crude oil prices did not last long after the black commodity trade returned to decline as the market headed towards the weekend.
After hitting its latest seven -year high of $ 83.70 a barrel, U.S. WTI crude oil trading declined again by trading at $ 81.84 a barrel.
Brent crude, meanwhile, was down $ 83.47 a barrel, failing to sustain its previous $ 85.45 a barrel rise.
The fall may be due to profit -taking by investors after driving the rise in the price of the black commodity to its latest annual high on Thursday.
The oil market has strengthened significantly as shortages of coal and natural gas have led to higher consumption of crude oil, thus supporting price increases.
In addition, a sharp decline in U.S. crude oil supplies last week also supported the black commodity trade and is on track for a 0.5% increase this week.
Data from the U.S. Energy Information Administration (EIA) on Wednesday showed crude oil stocks in Cushing fell to 31.2 million barrels, the lowest level since October 2018.
