FILE PHOTO: An oil pump is seen operating in the Permian Basin near Midland, Texas, U.S. on May 3, 2017. REUTERS
SINGAPORE: Oil prices eased yesterday, dragged down by rising output and a decline in China’s refining activity, although strong fuel consumption in the United States and a drop in its crude inventories provided some support.
Brent crude futures were at US$76.47 per barrel, down 27 US cents, or 0.4%, from their last close.
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