Thursday 23 November 2017

Oil Prices Dip After US Crude Hits Near Two-Year High On Pipeline Shutdown

Oil prices eased on Thursday, with U.S. crude dipping away from two-year highs reached the day before, but the shutdown of the Keystone pipeline and a draw-down in fuel inventories continued to bolster markets despite worries over rising output. U.S. West Texas Intermediate (WTI) crude futures were at $57.89 a barrel at 0437 GMT, down 13 cents, or 0.2 percent, from their last settlement, but still close to 2015-highs of $58.15 a barrel reached on Wednesday.

Brent crude futures, the international benchmark for oil prices, were at $63.17 per barrel, 15 cents, or 0.2 percent, below their last close.

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