The drop came after data showed that crude stocks did not rise as expected due to a shortage in storage capacity, despite pledges to cut production from May 1.
Data from the American Petroleum Institute showed late yesterday, that US crude oil stocks increased by 10 million barrels during the week ending April 24 to reach 510 million barrels, while analysts' expectations indicated an increase of 10.6 million barrels.
In contrast, Brent crude futures rose yesterday by 47 cents, or 2.3%, to settle at the settlement of $ 20.46 a barrel after recording a loss of 6.8% on Last Monday.
Markets received support from hopes that demand will recover after some governments announced the easing of restrictions linked to the emerging coronavirus (Covid 19).
