(VOVworld) – Global oil prices fell sharply on Thursday as the oil volume in the US’s strategic petroleum reserve increased dramatically despite falling oil surpluses in the world’s major petroleum exporting countries.

In the London market, Brent crude, the global oil benchmark, lost 1.8 USD to 44.10 USD per barrel. On the New York Mercantile Exchange, West Texas Intermediate crude oil decreased 1.18 USD or 2.75 percent to 41.75 USD per barrel.