Oil prices have fallen about 2 percent, as the increase in oil and gasoline has strengthened fears of another major oversupply.

Today, the company Genscape reported that oil reserves in the terminal Cushing, Oklahoma, rose by 26,460 barrels for the week ended July 15th.

Meanwhile, Morgan Stanley experts said they expected to a significant reduction in demand for oil from the refinery, which will eventually lead to an increase in reserves and will have a significant pressure on prices. Also Morgan Stanley noted that it is still expected a change in the balance of demand and supply of oil by mid-2017.

The attempted coup in Turkey hardly affected the market, as the Bosphorus in Istanbul, which handles about 3 percent of the world's oil supply mainly from the Black Sea and Caspian region, resumed its work after a short break.

Friday's data from Baker Hughes continue to influence, which showed that the number of drilling rigs in the US increased by 6 to 357, increasing the third consecutive week and the sixth week of the last seven. Renewed growth spawned rumors that the volume of oil production in the country could soon begin to grow, reinforcing fears of a oversupply of oil.

Meanwhile, Commodity Futures Trading Commission showed that funds reduced their bullish bets on Brent crude to the lowest level in four months.

The cost of the September futures on US light crude oil WTI fell to 45.80 dollars per barrel.

September futures price for Brent fell to 46.95 dollars a barrel on the London Stock Exchange ICE Futures Europe.