Oil sank Movement.down.loss 9 percent to its weakest level Position.low in four-month on Tuesday , extending the second-deepest rout on record , after Goldman Sachs warned that futures would plummet Movement.down.loss further and Gulf oil producers showed no sign of slashing Cause.movement.down.loss output .

Meanwhile , the December contract for West Texas Intermediate shed all of its earlier gains Movement.up.gain as it sank Movement.down.loss 12.7 percent to $ 97.40 a barrel .

Gasoline inventories sank Movement.down.loss by 2.2 million barrels last week , less than the 558,000 draw analysts were looking for , while distillates -- including diesel -- were down Movement.down.loss 1.63 m barrel , deeper than the 1.9-million-barrel slide Movement.down.loss expected .

`` The big mistake was that they continued to curb Cause.movement.down.loss production to try to ramp up Cause.movement.up.gain the prices and the price sank Movement.down.loss anyway , '' said analyst Yasser Elguindi of Medley Global Advisors .

Meanwhile , the February futures contract for West Texas Intermediate shed all of its earlier gains Movement.up.gain as it sank Movement.down.loss 3 % to $ 97.40 a barrel .

After increasing Movement.up.gain above $ 108 a barrel on April , oil futures sank Movement.down.loss back January to $ 18.84 in spite of an announcement by Iran that it would disrupt Cause.movement.down.loss its supply 1980s .

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 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 .

Venezuela 's oil exports sank Movement.down.loss 40 percent in the first full month after the beginning of U.S. sanctions Embargo designed to oust Socialist President Nicolas Maduro , according to data from state-run oil firm PDVSA and Refinitiv Eikon .

After surging Movement.up.gain $ 61.25 a barrel on Tuesday , oil futures sank Movement.down.loss back this year to $ 18 in spite of an announcement by Iran that it would curb Cause.movement.down.loss its supply August .

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 .

Investing.com - Oil prices sank Movement.down.loss in 2002 after the OPEC choked off Cause.movement.down.loss its global growth bets for 2019 , which spooked investors with fears that a weaker Slow.weak global economy will demand lower Movement.down.loss fuels and energy than once anticipated .