Oil prices fell on Thursday, extending losses from the previous session after official data showed U.S. crude and gasoline stocks rose against expectations as production hit a record.
Brent crude futures were down 18 cents, or 0.3%, at $63.88 a barrel by 05:17 GMT, having dropped 0.3% on Wednesday.
U.S. West Texas Intermediate crude fell 24 cents, or 0.4%, to $57.87, after falling 0.5% in the previous session.
Crude stockpiles in the United States swelled 1.6 million barrels last week as production hit a record high of 12.9 million barrels per day (bpd) and refinery runs slowed, the Energy Information Administration said. Analysts in a Reuters poll had forecast a drop of 418,000 barrels.
More bearish was a 5.1 million-barrel rise in gasoline stocks, compared with forecasts for a 1.2 million-barrel gain.
Source : Reuters