Oil prices turned negative on Wednesday evening, with trading marked by high volatility. May Brent futures on the ICE Futures London exchange fell $0.22 (0.32%) to $81.18 per barrel. April WTI futures on NYMEX fell $0.23 (0.31%) to $74.33 per barrel.

Earlier in the session, Brent contracts rose as high as $84.48 per barrel and WTI to $77.25. Investors continue to monitor the situation in the Middle East and assess US Energy Department inventory data.