Oil prices fell during Thursday's trading, continuing the downward trend that began in the previous sessions.

These declines come amid fears of a global economic recession, and expectations of continued rise in interest rates by the US Federal Bank.

On the data front, American Petroleum Institute indicators showed a decline in crude oil and gasoline inventories last week, while distillate inventories rose.

Markets are eagerly awaiting US Energy Information Administration data on crude oil inventories for last week, which are also expected to show a decline.
Despite these positive data, fears of a global economic recession are weighing on oil prices.

Many indicators point to a slowdown in economic activity around the world. Which portends a decline in demand for oil and petroleum products.

Interest rates continue to rise in the United States; This puts pressure on consumer spending, including fuel spending.