Oil prices declined on Thursday, snapping a three-day winning streak.
The West Texas Intermediate for May delivery dropped 94 cents, or 1.33 percent, to settle at 69.96 U.S. dollars a barrel on the New York Mercantile Exchange. Brent crude for May delivery lost 78 cents, or 1.02 percent, to close at 75.91 dollars a barrel on the London ICE Futures Exchange.
Oil participants continued to digest data on U.S. fuel stockpiles
The US Energy Information Administration reported Wednesday that the country's crude oil inventories increased by 1.1 million barrels during the week ending March 17.
Total motor gasoline inventories decreased by 6.4 million barrels last week, while distillate fuel stocks fell by 3.3 million barrels, showed the report.
