The gloom in crude oil trade extended on Thursday as concerns over geopolitical tensions eased.
In the European session, Brent crude oil futures traded lower at $92 per barrel while US WTI trades were gloomy at $84 per barrel.
Both benchmarks fell 1.1% and 1.5% respectively on Wednesday after Russian oil shipments via the Druzhba pipeline to Hungary restarted.
Also driving the drop in the commodity was when NATO cleared Russia of accusations of masterminding the missile fire on Poland.
Prices also struggled to find direction after a mixed US crude oil supply report by the Energy Information Administration (EIA).
Most recently, US oil supplies fell by 5.4 million barrels last week, but gasoline inventories and distillate stocks rose more than expected.
In fact, the US market may face a new flow of oil after TC Energy canceled the force majeure on the 622,000 barrel per day Keystone pipeline to the Midwest and Gulf Coast.
In the meantime, concerns about demand in China remain haunting this market as Covid-19 infection cases continue to record an increase in the world's main oil importing country.
