Brent crude oil prices rebounded from morning lows but remained stalled around $60 a barrel on Thursday after U.S. government data showed crude stocks hit a record high last week.
U.S. commercial crude oil inventories rose by 7.7 million to a record 425.64 million barrels in the week ended Feb. 13, said the U.S. Energy Information Administration.
The build was the biggest weekly addition in barrels since records began in 1982, exceeding analysts' expectations of a 3.2 million barrel rise.
Benchmark Brent crude futures for April were down 33 cents at $60.17, having hit an intraday low of $57.80 earlier in the session, extending declines from Tuesday's two-month high of $63.
U.S. crude for March delivery settled down 98 cents, at $51.16 a barrel after falling as low as $49.15 earlier. The contract expires on Friday.
Gasoline stocks rose by 485,000 barrels compared with analysts' expectations in a Reuters poll for a 167,000 barrels gain. Distillate stockpiles fell by 3.8 million barrels, versus expectations for a 2.1 million barrels drop.
Crude stocks at the Cushing, Oklahoma, delivery hub rose 3.66 million to 46.26 million barrels, the EIA data showed.