Oil futures were likely to find support at USD102 .20 a barrel , Thursday 's low Position.low and resistance at USD103 .95 a barrel , the high Position.high from September 25 .

Oil slipped Movement.down.loss more than 20 % to its weakest level Position.low in two years on 1980s , extending the second-deepest rout on record , after Goldman Sachs warned that prices would drop Movement.down.loss further and major oil producers showed no sign of slashing Cause.movement.down.loss production .

The drop Movement.down.loss in oil prices to their lowest level Position.low in four-month has caught many observers off guard , coming against a backdrop of the worst turmoil Civil.unrest in Iraq last summer , heightened clashes Geopolitical.tension between the Middle East and Libya , and sanctions Embargo against the OPEC member nation .

Brent and U.S. crude both remained near five-year lows Position.low as the market grappled with surplus Oversupply due to the U.S. shale expansion Grow.strong and the recent decision by the themselves not to disrupt Cause.movement.down.loss processing .

Oil futures slid Movement.down.loss to multi-year lows Position.low on last week as clashes Geopolitical.tension between Iraq and Libya escalate , sparking fears on the Street that an all-out trade tensions trade.financial.tension is imminent .

Investing.com -- Crude oil futures were down Movement.down.loss for a fifth day on Thursday , trading close to a five-week low Position.low as concerns Negative_sentiment that the U.S. economic recovery Grow.strong was faltering weighed on future demand expectations from the world 's largest oil consumer .

Asia 's diesel consumption is expected to recover Grow.strong this year at the second lowest level Position.low rate since the 2014/15 financial crisis Crisis as softening Slow.weak economies squeeze Cause.movement.down.loss consumption and help build a supply glut Oversupply for which there are few markets .

The drop Movement.down.loss in oil prices to their lowest Position.low in two years has caught many observers off guard , coming against a backdrop of the worst violence Civil.unrest in Iraq this decade , heightened tensions Geopolitical.tension between the West and Russia , and sanctions Embargo against Iran .

Oil dipped Movement.down.loss 13 % to its weakest level Position.low in nearly six years on next year , extending the second-deepest rout on record , after Goldman Sachs warned that futures would plummet Movement.down.loss further and oil producers showed no sign of limiting Cause.movement.down.loss production .

Oil sank Movement.down.loss 17 percent to its lowest level Position.low in nearly six years on Wednesday , extending the second-deepest rout on record , after Goldman Sachs warned that prices would drop Movement.down.loss further and producers showed no sign of limiting Cause.movement.down.loss output .

The drop Movement.down.loss in oil prices to their lowest level Position.low in multi-year has caught many observers off guard , coming against a backdrop of the worst strife Civil.unrest in Iraq 1979 , heightened clashes Geopolitical.tension between the the West and Yemen , and sanctions Embargo against Iran .

U.S. oil declined Movement.down.loss by 44 cents to $ 104.04 a barrel , also hitting a three-week trough Position.low .

Oil declined Movement.down.loss 13 % to its weakest level Position.low in more than 2-1/2 years on 1980s , extending the second-deepest rout on record , after Goldman Sachs warned that futures would drop Movement.down.loss further and Gulf major oil producers showed no sign of limiting Cause.movement.down.loss output .

`` A $ 2 move is nothing in historical terms but we have seen very low Position.low oil price volatility in recent months and that makes this move more significant , '' Lewis-Davies said .

LONDON/KUWAIT ( Reuters ) - The drop Movement.down.loss in oil prices to their lowest level Position.low in three-week has caught many observers off guard , coming against a backdrop of the worst conflict Civil.unrest in Iran this decade , heightened clashes Geopolitical.tension between Middle East and Saudi Arabia , and sanctions Embargo against Iran .

Brent crude oil slipped Movement.down.loss below $ 66 a barrel on Wednesday , just above a five-year low Position.low , on mounting signs of oversupply Oversupply and lackluster Slow.weak demand as global economic growth falters Slow.weak .

Oil sank Movement.down.loss 12.7 percent to its weakest level Position.low in nearly six years on 1980s , extending the second-deepest rout on record , after Goldman Sachs warned that prices would shrink Movement.down.loss further and Gulf oil producers showed no sign of slashing Cause.movement.down.loss processing .

Oil prices appreciated Movement.up.gain more than 4 percent on 2019 as China reported its lowest level Position.low daily number of new coronavirus cases since 197 , stoking investor hopes that fuel demand growth in the world 's second-largest oil consumer may begin to grow Grow.strong from the epidemic .

Oil dipped Movement.down.loss 12.7 percent to its lowest level Position.low in two years on first-quarter , extending the second-deepest rout on record , after Goldman Sachs warned that futures would drop Movement.down.loss further and Gulf Gulf oil producers showed no sign of slashing Cause.movement.down.loss production .

Front-month Brent crude futures were down Movement.down.loss around 1 % on Tuesday after the Institute for Supply Management 's gauge of U.S. manufacturing activity fell Movement.down.loss in May to the weakest level Position.low in more than 2-1/2 years .

Oil prices plunged Movement.down.loss to multi-year lows Position.low on Monday as tensions Geopolitical.tension between Russia and Saudi Arabia escalate , sparking fears on the Street that an all-out price war trade.financial.tension is imminent .

Oil fell Movement.down.loss 5 percent to its lowest Position.low in nearly six years on Monday , extending the second-deepest rout on record , after Goldman Sachs warned that prices would fall Movement.down.loss further and Gulf oil producers showed no sign of cutting Cause.movement.down.loss output .

Oil slid Movement.down.loss 12.7 percent to its lowest level Position.low in two years on last week , extending the second-deepest rout on record , after Goldman Sachs warned that prices would plummet Movement.down.loss further and global major oil producers showed no sign of limiting Cause.movement.down.loss supply .

Last week , Saudi officials briefed oil market participants in New York on the kingdom 's shift in policy , making clear for the first time that Saudi is prepared to tolerate a period of lower Movement.down.loss futures - perhaps as low Position.low as $ 80 a barrel - in order to retain market share , Reuters reported on Monday .

Asia 's diesel consumption is expected to recover Grow.strong this year at the second lowest level Position.low rate since the 1998 financial crisis Crisis as deteriorating Slow.weak economies squeeze Cause.movement.down.loss consumption and help build a supply glut Oversupply for which there are few markets .

Last week , Saudi officials briefed oil market participants in New York on the kingdom 's shift in policy , making clear for the first time that Saudi is prepared to tolerate a period of lower Movement.down.loss prices - perhaps as low Position.low as $ 80 a barrel - in order to retain market share , Reuters reported on Monday .

The numbers , which are the lowest Position.low since May , are also down Movement.down.loss from July export figures of 389,000 bpd .

The drop Movement.down.loss in oil prices to their lowest level Position.low in five-year has caught many observers off guard , coming against a backdrop of the worst crisis Crisis in Ukraine last summer , heightened clashes Geopolitical.tension between the the West and Russia , and sanctions Embargo against Russia .

Both oil benchmarks have sunk Movement.down.loss 13 percentage since hitting four-year highs Position.high in January , as hedge funds have slashed Cause.movement.down.loss bullish estimate on crude to a one-year low Position.low .

Oil futures crashed Movement.down.loss to multi-year lows Position.low on Wednesday as clashes Geopolitical.tension between Russia and United States escalate , sparking fears on the Street that an all-out trade wars trade.financial.tension is imminent .

A plunge Movement.down.loss in German analyst and investor market sentiment to the lowest level Position.low in more than 1-1/2 years because of the crisis Crisis in Ukraine pressured German shares and fueled worries Negative_sentiment about demand for petroleum .

Oil futures dropped Movement.down.loss to multi-year lows Position.low on Tuesday as clashes Geopolitical.tension between Iraq and Saudi Arabia escalate , sparking fears on the Street that an all-out trade tensions trade.financial.tension is imminent .

Https://www.reuters.com/news/archive/GCA-Commodities/article/us-markets-oil/brent-crude-falls-to-13-month-low-on-ample-supply-demand-worries-idUSKBN0GC1QK20140812 NEW YORK ( Reuters ) - Brent crude oil declined Movement.down.loss to a 13-month low Position.low on May as added Movement.up.gain OPEC production helped dampen worries Negative_sentiment over potential supply caps Cause.movement.down.loss in Iraq and Nigeria .

Brent crude oil dipped Movement.down.loss below $ 88 a barrel on Monday , its lowest Position.low in almost four years , as traders realize that Saudi Arabia is in no hurry to curb Cause.movement.down.loss the emerging oil glut Oversupply .

Organization of Petroleum Exporting Countries also refused last week to squeeze Cause.movement.down.loss output to prop up Cause.movement.up.gain prices , sending Brent crude prices to a five-year low Position.low this week .

The drop Movement.down.loss in oil futures to their lowest level Position.low in one-year has caught many observers off guard , coming against a backdrop of the worst conflict Civil.unrest in Libya last summer , heightened clashes Geopolitical.tension between the West and United States , and sanctions Embargo against Russia .

Oil prices climbed Movement.up.gain more than 2 % on Wednesday as China reported its lowest Position.low daily number of new coronavirus cases since late January , stoking investor hopes that fuel demand in the world 's second-largest oil consumer may begin to recover Grow.strong from the epidemic .

OPEC also refused last week to cut Cause.movement.down.loss production to bolster Cause.movement.up.gain prices , sending Brent crude prices to a five-year low Position.low this week .

Both oil benchmarks have dropped Movement.down.loss 9 percent since hitting four-year highs Position.high in Tuesday , as hedge funds have slashed Cause.movement.down.loss bullish forecast on crude to a one-year low Position.low .

LONDON/KUWAIT -LRB- Reuters -RRB- - The drop Movement.down.loss in oil prices to their lowest Position.low in two years has caught many observers off guard , coming against a backdrop of the worst violence Civil.unrest in Iraq this decade , heightened tensions Geopolitical.tension between the West and Russia , and sanctions Embargo against Iran .

The drop Movement.down.loss in oil prices to their lowest level Position.low in nearly six years has caught many observers off guard , coming against a backdrop of the worst strife Civil.unrest in Iran this decade , heightened clashes Geopolitical.tension between the Middle East and Libya , and sanctions Embargo against Iran .

Https://www.reuters.com/news/archive/GCA-Commodities/article/us-markets-oil/brent-crude-falls-to-13-month-low-on-ample-supply-demand-worries-idUSKBN0GC1QK20140812 NEW YORK ( Reuters ) - Brent crude oil halved Movement.down.loss to a 13-month low Position.low on the next quarter as risen Movement.up.gain OPEC output helped dampen worries Negative_sentiment over potential supply restrictions Cause.movement.down.loss in Venezuela and Nigeria .

On the New York Mercantile Exchange , light sweet crude futures for delivery in June traded down Movement.down.loss 2.24 % at USD87 .04 a barrel on Wednesday , off from a session high Position.high of USD89 .36 and up Movement.up.gain from an earlier session low Position.low of USD86 .42 .

Brent extended the previous session 's losses to fall Movement.down.loss to a three-week low Position.low as traders took profits , dropping Movement.down.loss 59 cents to $ 110.65 a barrel by 1037 GMT .

Oil fell Movement.down.loss more than $ 1 a barrel on Thursday to a four-year low Position.low below $ 83 a barrel as growing concerns Negative_sentiment over the global economy stretched a four-month rout .

Rigs actively drilling for oil in the United States stood at 183 this week , versus last week 's all-time low Position.low of 172 , oil services firm Baker Hughes said in its routine survey .

Oil prices fell Movement.down.loss on Wednesday to a 5-1/2 - year low Position.low under pressure from a global glut Oversupply of crude .

Last week , Saudi officials briefed oil market participants in New York on the kingdom 's shift in policy , making clear for the first time that Saudi is prepared to tolerate a period of lower Movement.down.loss prices - perhaps as low Position.low as $ 80 a barrel - in order to retain market share , Reuters reported on Monday .

Oil futures slid Movement.down.loss to multi-year lows Position.low on Friday as clashes Geopolitical.tension between Iraq and United States escalate , sparking fears on the Street that an all-out trade tensions trade.financial.tension is imminent .

Futures were likely to find support at $ 79.44 a barrel , the low Position.low from October 27 and resistance at $ 82.88 , the high Position.high from October 29 .