Brent futures settled at US$71.31 a barrel, down 4 cents after touching its highest since May 2019 earlier in the session. U.S. crude settled at $68.81 a barrel, losing 2 cents. WTI prices rose as high as $69.40, the strongest since October 2018, after gaining 1.5% in the previous session.(File pic shows oil storage at Cusjing, Oklahoma. - reuters)
NEW YORK: Oil prices steadied on Thursday following two straight days of gains that took oil futures to highs not seen in a year, after weekly U.S. crude stocks fell sharply while fuel inventories rose more than expected.
Brent futures settled at US$71.31 a barrel, down 4 cents after touching its highest since May 2019 earlier in the session. U.S. crude settled at $68.81 a barrel, losing 2 cents. WTI prices rose as high as $69.40, the strongest since October 2018, after gaining 1.5% in the previous session.
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