Oil fell below $79 a barrel on 10 November as tropical storm Ide was downgraded from a hurricane and forecasts predicted US crude stockpiles to rise.
US crude for December delivery fell to $78.67 a barrel by 07.56 GMT, after rising $2 the previous day, Reuters reports.
Ida was downgraded from hurricane status on Monday but production remained halted as firms waited for the storm to pass.
In a Reuters poll conducted on 9 November, analysts said that US crude inventories may have risen over the past week due to higher imports.
