After three days of decline, the petrol a slightly increased, amid concerns about oversupply and a slowdown in demand in the United States, even though prices are poised to record a second weekly decline.

The price of Brent crude oil has increased by 28% cents, or 0.44%, to reach $63.66 per barrel at 04:21 GMT.

The American Crude Oil Price West Texas Intermediate (WTI) stood at $59.72 per barrel, up 29% cents, or 0.49%. Brent and WTI are expected to fall by around 2% this week, registering a second week of decline in a row, in due to the increase in production from the world's main producers.

The price drop is due to an increase unexpected US inventories of 5.2 million barrels, which revived fears of overproduction, said Tony Sycamore, an analyst at IG Markets.

American crude oil inventories increased more than expected due to the rise in imports and the slowdown in refining activity, while gasoline and distillate stocks have Decreased, the American Energy Information Agency said on Wednesday (EIA).

Oil prices have also come under pressure due to concerns about the effects of the longest paralysis governmental history of the United States on the economy in general.