Oil prices dip after reaching June highs on U.S. crude stock draw

Oil prices dip after reaching June highs on U.S. crude stock draw
 

Oil prices eased on Thursday but remained near June highs reached the previous session when they were buoyed by a fall in U.S. crude inventories.
U.S. West Texas Intermediate (WTI) crude oil futures were trading at $49.54 per barrel at 0136 GMT, down 29 cents or 0.6 percent from their last settlement.
International Brent crude futures were down 30 cents, or 0.6 percent, at $51.56 per barrel.
Traders said the price dips early on Thursday were largely a result of profit-taking following strong price rises the day before.
Both contracts hit their highest levels since June on Wednesday after... read more

 
6 October 2016 in Business, Views: 33
Source: Reuters
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