Crude oil trades close to 5-week low Position.low on U.S. demand concerns Negative_sentiment .

`` 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 .

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 .

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 .

Both oil benchmarks have lost Movement.down.loss more than 15 percent since hitting four-year highs Position.high in early October , as hedge funds have cut Cause.movement.down.loss bullish bets on crude to a one-year low Position.low .

The group also refused last week to reduce Cause.movement.down.loss processing to revive Cause.movement.up.gain prices , sending Brent crude prices to a five-year low Position.low this week .

Both oil benchmarks have fallen Movement.down.loss 3.3 percent since hitting four-year highs Position.high in January , as hedge funds have trimmed Cause.movement.down.loss bullish estimate on crude to a one-year low Position.low .

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 .

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 .

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 .

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 .

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 .

Both oil benchmarks have slid Movement.down.loss more than 15 percent since hitting four-year highs Position.high in late April , as hedge funds have trimmed Cause.movement.down.loss bullish forecast on crude to a one-year low Position.low .

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 last week as boosted Movement.up.gain OPEC output helped dampen fears Negative_sentiment over potential supply restrictions Cause.movement.down.loss in Mexico and Libya .

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

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 .

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 .

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 .

Brent crude rose Movement.up.gain to $ 105 a barrel on Monday to come off of a four-month low Position.low hit in the previous session , with worries Negative_sentiment about global oversupply Oversupply still outweighing concerns Negative_sentiment about violence Civil.unrest in the Middle East and North Africa .

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

Both oil benchmarks have slid Movement.down.loss 3.3 percent since hitting four-year highs Position.high in the 2020s , as hedge funds have reduced Cause.movement.down.loss bullish bets on crude to a one-year low Position.low .

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 .

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 .

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 -LRB- Reuters -RRB- - Brent crude oil fell Movement.down.loss to a 13-month low Position.low on Tuesday as increased Movement.up.gain OPEC production helped dampen concerns Negative_sentiment over potential supply disruptions Cause.movement.down.loss in Iraq and Libya .

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 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 .

It earlier fell Movement.down.loss as much as 0.48 % to trade at a daily low Position.low of USD91 .52 a barrel , hovering close to the previous session 's five-week low Position.low of USD91 .21 a barrel .

It earlier fell Movement.down.loss as much as 0.48 % to trade at a daily low Position.low of USD91 .52 a barrel , hovering close to the previous session 's five-week low Position.low of USD91 .21 a barrel .

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 sank Movement.down.loss to a 13-month low Position.low on 1980s as ballooned Movement.up.gain non-OPEC production helped dampen worries Negative_sentiment over potential supply cuts Cause.movement.down.loss in Mexico and Libya .

Domestic U.S. output has rebounded Movement.up.gain by almost 15 % since the most recent low Position.low in mid-2016 , and increasing Movement.up.gain drilling activity for new production means output is expected to grow Grow.strong further , as producers are attracted by climbing Movement.up.gain prices .

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 .

U.S. crude for September delivery rose Movement.up.gain 2 cents to $ 102.09 a barrel , after falling Movement.down.loss as low Position.low as $ 101 a barrel earlier in the session .

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 .

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 .

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 .