Oil falls on rising U.S. inventories, OPEC talk of cut limits loss | Reuters

Oil falls on rising U.S. inventories, OPEC talk of cut limits loss | Reuters:

Oil prices dipped on Thursday after U.S. inventories swelled to their highest level since December adding to concerns about a global crude glut but OPEC talk of an output cut limited losses.

Benchmark Brent fell 96 cents last trading at $62.52 a barrel at 1840 GMT, edging back from a more than $1 drop in early European trading. U.S. WTI fell more than a $1 before easing back to settle down 78 cents at $53.85.

Trading was thin due to Thursday’s Thanksgiving holiday in the United States.