Brent crude fell 4.7% while US West Texas Intermediate was down 3.9%.
For US oil, that was its lowest point since touching $32.40 in December 2008 during the global financial crisis.
But the price of Brent crude was seen falling to fresh 11-year lows. The last time Brent was so low was April 2004.
Huge oversupply and near-record outputs have continued to drag on oil prices, which are now 70% lower in value than when the downturn began in June 2014.
Companies and governments that rely heavily on oil revenues have been suffering as a result.
Adding to the continuing fall in oil prices, China depreciated the yuan on Thursday, sending regional currencies and stock markets tumbling.
Demand for crude tends to fall when the US dollar is stronger against currencies of purchasing countries and China remains the world’s biggest energy consumer.
China’s stock markets were suspended for the rest of the day, less than half an hour into trading, after falling 7% and triggering a new circuit-breaking mechanism for the second time this week.
Overnight, the US Department of Energy’s weekly report showed a sharp drop in US commercial crude inventories of 5.1 million barrels to 482.3 million.
The government data also showed a gain in US crude production of 17,000 barrels a day, taking it to 9.22 million barrels a day, the fourth consecutive week of increases. There was also a rise in stockpiles at the Cushing oil hub in Oklahoma.
Oil is so oversupplied globally that countries are running out of storage.
The US, which is thought to have among the largest storage facilities in the world, has nowhere left to keep it, according to Paul Stevens, professor emeritus at the University of Dundee and a Middle East specialist.
“Storage is pretty much full and people are already talking about buying tankers as floating storage,” he said.
“But if supply continues to outstrip demand, then the only thing that you can do with the oil is sell it, which inevitably pushes the price down.”
The huge storage overhang means that even if US production falls this year, as oil companies halt production, it will take several months to get rid of excess supplies.
This website and sisters royaldutchshellplc.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.
Royal Dutch Shell conspired directly with Hitler, financed the Nazi Party, was anti-Semitic and sold out its own Dutch Jewish employees to the Nazis. Shell had a close relationship with the Nazis during and after the reign of Sir Henri Deterding, an ardent Nazi, and the founder and decades long leader of the Royal Dutch Shell Group. His burial ceremony, which had all the trappings of a state funeral, was held at his private estate in Mecklenburg, Germany. The spectacle (photographs below) included a funeral procession led by a horse drawn funeral hearse with senior Nazis officials and senior Royal Dutch Shell directors in attendance, Nazi salutes at the graveside, swastika banners on display and wreaths and personal tributes from Adolf Hitler and Reichsmarschall, Hermann Goring. Deterding was an honored associate and supporter of Hitler and a personal friend of Goring.
Deterding was the guest of Hitler during a four day summit meeting at Berchtesgaden. Sir Henri and Hitler both had ambitions on Russian oil fields. Only an honored personal guest would be rewarded with a private four day meeting at Hitler’s mountain top retreat.
IN JULY 2007, MR BILL CAMPBELL (ABOVE, A RETIRED GROUP AUDITOR OF SHELL INTERNATIONAL SENT AN EMAIL TO EVERY UK MP AND MEMBER OF THE HOUSE OF LORDS: 
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A head-cut image of Alfred Donovan (now deceased) appears courtesy of The Wall Street Journal.
