But announcements of a possible virus vaccine and ongoing talks on a European Union fund to revive pandemic-affected economies have curbed black gold losses.
Brent crude contracts ended the world record for the closest entitlement to the trading session, up 14 cents, or 0.3%, to settle at the settlement of $ 43.28 a barrel.
The US West Texas Intermediate standard crude contracts increased 22 cents, or 0.5%, to settle at $ 40.81 a barrel.
"In the current situation, it is unlikely that any major gains will be recorded in the near future, until signs appear," said Bernard Tonjohn, head of oil markets at Restad Energie. However, the pandemic is slowing down.
He told Reuters: Although the virus was contained in Europe, the Americas and some Asian countries still have a long way to go.
Oil prices received support after three groups said that their potential vaccines for Corona virus (Covid 19) showed promising results.
(Fun Knowledge of Knowledge)
