Oil slides again

Oil prices fell on Thursday, with US crude dipping below $40 per barrel, retreating from early gains amid a persistent global glut of crude and refined fuel. Brent crude futures were down 20 cents at $43.94 a barrel by 1411 GMT. Rising US stockpiles served as the most visible evidence of oversupply in oil markets.

Goldman Sachs said on Thursday there remained a downside risk to oil prices "as storage utilisation continues to climb". The bank added that "we don't believe that current prices present an appealing entry point".

International benchmark Brent is down nearly 12 per cent this month and 24 per cent this year, having slumped from as high as $115 in 2014.