Nymex WTI crude oil futures for June delivery fell 81 cents, or 0.8%, to $98.92 a barrel after closing below $100 on Wednesday. On a front-month basis, oil futures fell for a second consecutive month in April and have dropped for three of the past four months.Data on Wednesday from the Energy Information Administration showed crude supplies rose less than expected, but nonetheless hit record levels.
Oil futures posted little lasting reaction to data that showed first-time applications for state unemployment benefits rose by 14,000 to 344,000 in the week ending April 26, defying forecasts for a decline to 320,000.
Separately, data showed U.S. consumer spending rose 0.9% in March, the biggest jump since August 2009 and topping forecasts for a 0.7% rise. Personal income rose 0.5% in March, matching forecasts.
ICE June Brent crude futures fell $1.03, or 1%, to $107.03 a barrel.