Oil fell in New York after US crude supplies increased to the highest level in more than three decades, adding to a global glut.
West Texas Intermediate for April delivery dropped 63 cents, or 1.2%, to $50.90 a barrel at 9:09 a.m. on the New York Mercantile Exchange. The volume of all futures traded was 43 percent above the 100-day average for the time of day.
Brent for April settlement rose 5 cents to $60.60 a barrel on the London-based ICE Futures Europe exchange. The European benchmark crude was at a premium of $9.64 to WTI, compared with $9.02 on Wednesday.