WTI crude oil fell almost 2% to below $95 per barrel on Thursday, after rising to nearly $99 earlier in the day and extending a 5.6% decline in the previous session.
As traders reassessed again the pledge from IEA to release a huge amount of oil from strategic reserves to offset supply lost from Russia.
IEA member countries agreed to release 60 million barrels, including a record 15 million barrels from Japan and following a 180 million barrel pledge from the US.
Elsewhere, talks to revive the Iran nuclear deal which could increase Iranian crude exports appeared to have stalled.
