Oil prices continue rout as supply fears weigh

Oil futures moved firmly lower in Thursday’s trade, adding to losses after their biggest one-day rout in more than a month in the wake of disappointing supply data.

On the New York Mercantile Exchange, light, sweet crude futures for delivery in May CLK6, -1.18% dropped 53 cents, or 1.3%, to $39.25 a barrel in the Globex electronic session. May Brent crude on London’s ICE Futures exchange LCOK6, -0.74%  gave up 30 cents, or 0.7%, to $40.17 a barrel.

The losses followed a steep decline in prices in the previous session, with Nymex crude sinking 4% on Wednesday, while Brent crude shed 3.2%.

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