Oil prices show a negative dynamic

Oil quotes fell again after a brief rebound from three-month lows during the morning trading.

The price of WTI fell below $ 43 for the first time since April.

Market sentiment was becoming more "bearish" in connection with the continuing glut of oil market.

Oil had previously received some support from a weaker dollar, which has lost more than 1% against the yen.

Later today, the American Petroleum Institute will release its report, while the government report, published on Wednesday, may show that crude oil inventories fell by 2.5 million barrels for the week ending 22 July.

According to forecasts, gasoline stocks are expected to increase by 675,000 barrels, while distillate stocks, including heating oil and diesel fuel will rise by 700,000 barrels, according to some analysts.

A day earlier, New York WTI crude oil lost $ 1.06, or 2.4%, as concerns over the glut of global reserves increased against the background of recovery of drilling activity in the US.

On Friday, oil services provider Baker Hughes reported that the number of drilling rigs in the US increased by 14 to 371, gaining the fourth week in a row and the seventh week of the last eight.

Growing drilling activity in the US has increased speculation that production may increase in the coming weeks, renewing concerns about excess inventories.

Concerns about the growth of stocks of gasoline have additional pressure on the prices asUS gasoline inventories are well above the upper limit of the average range, says EIA.

In the last session, Brent crude was under pressure as prospects for increasing exports from Libya and Iraq have raised concern that an excess of oil will reduce demand from refiners.

The cost of the September futures on WTI fell to 42.36 dollars per barrel.

September futures price for Brent fell to 44.14 dollars a barrel on the London Stock Exchange ICE Futures Europe.