Oil prices fell more than 1% on Thursday after US government data reported the first domestic crude inventory growth in six weeks, a build above market expectations.
Brent crude was down 66 cents, or 1.3%, at $51.15 per barrel by 11:09am EDT (4:09pm GMT).
US WTI crude fell 65 cents, or 1.2%, to $49.53.
The Energy Information Administration (EIA) said US crude stocks rose by 4.9 million barrels in the week ended 7 October.
Analysts polled by Reuters had forecast a more modest build of nearly 700,000 barrels.
By Reuters
- UPSTREAMONLINE.COM