Oil prices fell on Thursday, extending losses from the previous day, pressured by large builds in U.S. fuel inventories last week, though concerns over tighter supplies from OPEC members and Russia capped the decline.

​​​Brent crude oil rally stalls while copper, silver prices rise​ amid weakening US dollar.​

The oil markets are both rallying in the early hours of Tuesday, as we continue to hang about the 200 Day EMA. At this point, it looks like the oil markets continue to see a lot of bullish behavior.

Oil prices fell more than 1% on Wednesday as a stronger dollar and large builds in U.S. fuel inventories last week pressured prices, reversing earlier gains driven by tightening supplies from Russia and other OPEC members.

Oil futures settled with a loss on Wednesday after the U.S. Energy Information Administration reported that commercial crude inventories fell for a seventh straight week, but gasoline and distillate stockpiles climbed by more than 6 million barrels each.

U.S. crude oil inventories fell for a seventh consecutive week, while product stocks saw large builds last week as refineries increased their capacity use.

Oil prices rose on Wednesday as supplies from Russia and OPEC members tightened while U.S. crude oil stocks fell last week, market sources said, citing American Petroleum Institute figures. Also supporting prices was an unexpected increase in U.