WTI crude futures fell slightly on Thursday reversing territory following a late sell-off.
On the New York Mercantile Exchange, WTI crude for September delivery traded between $48.35 and $49.34 a barrel before closing at $48.58, down 0.23 or 0.46%.
Texas Long Sweet futures have now closed under $50 a barrel in eight consecutive sessions.
WTI crude futures are down by approximately 20% over the last month.
On the Intercontinental Exchange (ICE), brent crude for September delivery wavered in a tight range between $53.06 and $54.37 before settling at $53.42, up 0.05 or 0.12%. Brent futures closed lower for the sixth time in eight sessions. Over the last thirty days, the value of brent futures has also fallen sharply – declining by more than 15%.