Oil holds close to 13-month high, supported by sharp drop in U.S. output | Reuters
Oil prices remained close to 13-month highs on Thursday, with profit-taking limited by an assurance that U.S. interest rates will stay low and a sharp drop in U.S. crude output last week due to the storm in Texas.
Brent crude for April hit $67.70 a barrel during the session, its highest since Jan. 8, 2020. By 1437 GMT, it had slipped 48 cents, or 0.7%, on the day to $66.56.
U.S. West Texas Intermediate was down 49 cents or 0.8% at $62.73, after also hitting a 13-month high of $63.79.
Tamas Varga, analyst at PVM Oil Associates, said the dip was partly due to profit taking after a three-day rally.
No comments:
Post a Comment