Brent crude was down 1.08% to $68.89 at 11:40 a.m., according to CNBC.
Oil prices recovered somewhat earlier this week but resumed their decline on Thursday after European Central Bank president Mario Draghi announced the bank would leave its rates unchanged, according to Business Insider.
During the press conference, Draghi called the falling price of oil "unambiguously positive," which may have put pressure on oil prices.
Last week, OPEC announced that it would maintain its oil production target of 30 million barrels a day, which helped bring down oil prices.
Separately, TheStreet Ratings team rates UNITED CONTINENTAL HLDGS INC as a "buy" with a ratings score of B-. TheStreet Ratings Team has this to say about their recommendation:
"We rate UNITED CONTINENTAL HLDGS INC (UAL) a BUY. This is driven by a few notable strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its impressive record of earnings per share growth, compelling growth in net income, revenue growth, notable return on equity and good cash flow from operations. We feel these strengths outweigh the fact that the company has had generally high debt management risk by most measures that we evaluated."