Oil prices fell in volatile trade on Thursday, with Brent crude hitting its lowest in nearly seven weeks, after data showed U.S. crude output had reached record highs and the North Sea's largest crude pipeline reopened following an outage.
Brent crude futures were down 72 cents, or 1.1 percent, to $64.79 a barrel by 2:28 p.m. ET, having hit a 2018 low of $64.42.
U.S. West Texas Intermediate crude futures ended Thursday's session down 64 cents, or 1 percent, at $61.15 a barrel, having come close to wiping out the year's gains earlier in the session.
Both benchmarks slid for a fifth consecutive day, the longest losing streak for Brent since November 2017 and for WTI since April 2017.
Brent futures have lost about 8 percent since hitting a three-year high above $71 in late January.