Oil prices slip from 2014 highs, supply concerns limit losses | Reuters
Oil slipped on Thursday as investors took profitsfollowing a month-long rally in prices, but strong demand and short-term supply disruptions continue to support prices close to their highest levels since late 2014.
Brent crude futures fell 49 cents, or 0.6%, to $87.95 a barrel as of 0740 GMT, after falling more than $1 earlier. The global benchmark rose to $89.17 a barrel on Wednesday, its highest since October 2014.
U.S. West Texas Intermediate (WTI) crude futures for February delivery were down 6 cents, or 0.1%, at $86.90 a barrel, after dropping nearly $1 earlier. WTI climbed to as much as $87.91 on Wednesday, the highest since October 2014.
The February WTI contract will expire on Thursday and the most-actively traded contract, for March delivery, is at $85.41 a barrel, down 0.5%.
No comments:
Post a Comment