Price of Brent oil was down to start Thursday as crude oil inventory build in the U.S. came in much higher than the market expectation.
International benchmark Brent crude was trading at $58.92 per barrel at 0605 GMT for a 0.24% loss after closing Wednesday at $59.06 a barrel.
American benchmark West Texas Intermediate remained almost unchanged at $52.84 a barrel after ending the previous session at $52.80 per barrel.
Crude oil inventories in the U.S. increased by 10.45 million barrels for the week ending Oct. 11, according to data released by the American Petroleum Institute (API) on Wednesday.
The market expectation for weekly crude oil inventories was an increase of 2.88 million barrels.
By Ovunc Kutlu