Oil prices fell on Thursday, as concerns over low demand following a surprise U.S. crude inventory build outweighed jitters over global trade disruptions and geopolitical tensions in the Middle East.
Brent crude futures fell 65 cents, or 0.8%, to $79.05 a barrel by 0120 GMT while U.S. West Texas Intermediate crude was at $73.67 a barrel, down 55 cents, or 0.7%.
Both benchmarks edged up on Wednesday as investors worried about trade disruptions as major maritime carriers chose to steer clear of the Red Sea route, with longer voyages increasing transport and insurance costs.
