Crude oil futures turned lower on Thursday, after data showed US supplies of crude oil rose for the first time in ten weeks, as several refinery shutdowns last week due to storm Harvey lowered demand for crude. Data from the US Energy Information Administration (EIA) showed that domestic crude supplies climbed by 4.6 million barrels for the week ended Sept. 1, offsetting recent optimism on oil prices which has seen crude futures settle higher for three-straight days. EIA data showed, gasoline inventories fell by roughly 3.2m barrels, while distillate stockpiles fell by 1.4m barrels, below expectations of a decline of 3m barrels.

Benchmark crude oil futures for October delivery ended down by $0.07 or 0.1 percent to $49.09 on the New York Mercantile Exchange. In London, Brent crude for October delivery ended higher by 0.24 cent at $54.44 a barrel on the ICE.

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