Oil prices fell on Thursday to extend steep overnight losses on easing fears of a supply disruption.
Benchmark Brent crude futures slipped 0.3 percent to $85.15 a barrel, while WTI crude futures were down 0.2 percent at $77.80.
Both contracts fell more than 3 percent on Wednesday as data showed a larger-than-expected build-up in U.S. gasoline inventories.
Data released by U.S. Energy Information Administration (EIA) showed crude inventories dropped by 3.7 million barrels in the week ended November 18th, larger than an expected drop of about 1.1 million barrels.
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Market Analysis
June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.