Oil traders are concerned about the blurred demand outlook in the short term.
Crude prices printed their third weekly loss in four at the end of its most recent trading session.
The economy continues to face severe dollar shortages due to lower oil receipts which continues to pressure the nation’s FX reserves.
U.S. West Texas Intermediate felly by 1.57%, to trade at 39.53/barrel, after gaining 4.9% yesterday.
BERGER led 17 Gainers as against 19 Losers topped by NEM at the end of today's session.
Tropical Storm Sally picked up its strength in the Gulf of Mexico, west of Florida yesterday.
Brent lost 6.6% for the week, adding to the previous week’s drop of 5.3%.
Brent crude prices dropped 0.51% to trade at $40.58 a barrel, after rising 2.5% on Wednesday.
Brent crude futures were down by 0.65% trading at $39.52 falling below $40 a barrel.
Brent crude was down by 0.17%, to $41.94 a barrel, after falling 1.5% on Monday.