REUTERS
Oil prices resumed their decline on Wednesday having risen 4% since the beginning of the new year, as renewed conflict in the Middle East failed to quell concern over persistent oversupply.
Brent futures slid 1.8% to $35.79 a barrel, while WTI crude futures were down by 1.06% to $35.59 per barrel during the trading on the Intercontinental Exchange.
Market attention is focused on news from North Korea as a reported nuclear test has heightened investors' concerns about the security in North East Asia.
Read alsoChina strongly condemns nuclear test in North KoreaIt is reported that the United Nations Security Council is planning to hold an emergency meeting on Wednesday following North Korea's reported nuclear test, according to diplomats from the United States mission to the UN. It will be a closed meeting convened at the request of Japan and the U.S.