Oil prices fell on Thursday as record US crude inventories underscored that markets remain bloated by high production and brimming storage. 
Brent crude futures, the international benchmark for oil, were at $54.09 per barrel, down 27 cents, or 0.5%, from their last close. 
US West Texas Intermediate (WTI) crude futures were 0.5%, at $50.89 a barrel. 
Traders said the price falls came on the back of rising US crude oil production that resulted in record inventories. 

Source: QNA