Oil prices fall

Reuters

Singapore

Oil prices slid on Thursday as record U.S. crude inventories at the Cushing delivery point and worries about a global economic slowdown weighed on markets, and Goldman Sachs said prices would remain low and volatile until the second half of the year.

International benchmark Brent crude futures LCOc1 were trading at $30.67 per barrel at 0601 GMT, down 17 cents.

United States West Texas Intermediate (WTI) crude futures CLc1 were at $27.01 per barrel, down 44 cents and within a dollar of the $26.19 a barrel intra-day low hit in January that was the lowest since 2003.

Inventories at the Cushing, Oklahoma delivery point for the United States crude futures rose to an all-time high just shy of 65 million barrels, data from the government's Energy Information Administration (EIA) showed on Wednesday.