Brent crude fell $2.10, or 2.7 percent, to a low of $76.76 before recovering slightly to $77.20, down $1.66, by 1208 GMT.
Oil futures plunged on Wednesday as the market remained fixed on supplies resuming from Libya and rising trade tensions between the US and China. US crude CLc1 was down $1.74 at $72.37 a barrel.
The spectre of tariffs on a further $200 billion of Chinese goods sent commodities lower along with stock markets, as tension between the world's biggest economies intensified. USA light crude, supported by a tight North American market, was down 65 cents at $73.46 a barrel.
"Trade concerns have bitten today", said Michael McCarthy, chief markets strategist at CMC Markets.
USA crude oil stocks fell by almost 13 million barrels last week, the most in almost two years, dropping overall crude stocks to their lowest point since February 2015, the Energy Information Administration said on Wednesday. China is a top buyer of USA crude, and has said it could tax US oil if trade tensions escalate.
Iranian exports are expected to fall by 800,000 to 1 million barrels a day from their current level of 2.2 million barrels, said Dubai-based Ehsan Khoman, head of research for the Middle East and North Africa region at MUFG bank.
"Libyan relief changes the conversation about spare capacity", said John Kilduff, a partner at Again Capital Management.
Analysts say the main wild card for the second half of the year is how much Iranian crude is lost from the worldwide market after the US reimposes sanctions in November.
Isolating Iran could sideline millions of barrels of oil per day from a market with little spare capacity left.
It comes as Donald Trump's top diplomat hinted the U.S. could grant waivers to some countries allowing them to continue importing Iranian crude oil even after sanctions are reimposed in November.
Isolating Iran from the oil market should have minimum market disruptions because of close cooperation with Saudi Arabia, a US official said.
Oil prices have gained for most of 2018 on tightening supply and strong demand but investors fear a decision by the Organization of the Petroleum Exporting Countries to increase production may dampen price gains and offset production losses in countries including Libya. Higher gas prices can leave USA households with less money to spend on other products.
He requested "OP" - Oliver Perez - and it was understood as "OT" and Otero was told to warm up in the bullpen. Bauer got the start for Cleveland and shut Cincinnati out on three hits, striking out 12 over eight innings.
The keys she turned in belonged to a Nissan Infiniti rather than a Sentra, leaving the manager "slightly confused", said police. The owner said he had ducked into Walmart and returned to find his auto missing from the parking lot, according to police.
On an iOS device with CN (China) set as the language/locale, iOS is looking for the Taiwanese flag emoji and then removing it. After losing mainland China to communist forces in 1949, the Republic of China relocated to Taiwan.
The country's gross domestic product (GDP) surged to $2.597 trillion at the end of 2017, compared to France's $2.582 trillion. The US topped the list, with a GDP of $19.390 trillion, followed by China, which had a GDP of $12.237 trillion.
As numerous bodies were cremated before tests could be done, Kuboki may have killed far more people than she admits. An autopsy was then carried out on another 88-year-old patient, Sozo Nishikawa, who had shared a room with Yamaki.
Lower purchases by private refiners dragged down India's June imports from Iran although state refiners stepped up purchases. Iran supplied 18.4 million tonnes of crude oil during April 2017 and January 2018 (first 10 months of 2017-18 fiscal).
Victoria, meanwhile, recently revealed the empowering advice she shares with her "strong, smart" daughter. Regardless of what her parents have planned, we're hoping they post an adorable pic on social media.
Lee, who is engaged to Sydel Curry, sister of the two-time NBA MVP, was among the undrafted players back in the 2016 NBA Draft. The Warriors signed former Hawks guard Damion Lee to a 2-way contract Tuesday, according to a report from ESPN .
China rejects 'blackmail' on eve of USA tariff hike
President Xi, the president of China, is taking a much longer view than Trump because China's presidency doesn't have term limits. Wansleben added that China also needed to change its positions in many areas, "but there's definitely more room for improvement".
Ex-Bengals CB Pacman Jones attacked by employee at airport
Jones' party reportedly passed on medical treatment, but the assailant was transported to a local hospital for his injuries. Daugherty says that at some point during the fight, Ragin ended up hitting a woman who was with Jones, injuring her hand.
In Brussels, Trump Attacks Germany & NATO Secretary
He credited Trump, saying North Atlantic Treaty Organisation countries are investing more on defense because of his leadership. At the pre-summit breakfast meeting he launched straight back to his theme.
Meet the heroic Navy SEALs from the Thailand cave rescue
He was inside the cave complex and was part of the dive team setting up oxygen tanks along the rescue route, NZ Herald reported. They say the four boys and coach rescued Tuesday, after other rescues in the previous two days, are all safe.
Father of doctor involved in Thailand cave rescue dies
They were lost for nine days before British rescue divers discovered them on July 2, sitting on a ledge in a half-flooded chamber. If they're chloroformed, how could they come out? "From our assessment, they are in good condition and not stressed".
Total lunar eclipse on 27th
Royal Observatory Greenwich Astronomer Dhara Patel told Express.co.uk there are a number of explanations for why this happens. But don't worry, it's not a sign of the apocalypse but a natural wonder caused when Earth passes between the sun and moon.