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Brent dropped as far as $29.73, the lowest since February 2004 and down more than 1.5 per cent. It was down 47 cents at $29.84 a barrel at 0145 GMT and the contract has fallen every trading this year.
In This Pic : Oil slips below $30 a barrel
Pic Courtesy : BCCL - Non Copyright
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West Texas Intermediate (WTI) erased earlier gains and was down 12 cents at $30.36 a barrel. It settled at $30.48 on Wednesday, up 4 cents, the contract's first gain in 2016.
In This Pic : Oil slips below $30 a barrel
Pic Courtesy : BCCL - Non Copyright
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A bearish report from the US Energy Information Administration on Tuesday underlined concerns that demand is stagnating as more supply comes to market.
In This Pic : Oil slips below $30 a barrel
Pic Courtesy : BCCL
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