Brent LCOc1 futures fell US$2.57, or 2.1%, to settle at $119.03 a barrel, while U.S. West Texas Intermediate (WTI) crude CLc1 fell $2.59, or 2.3%, to settle at $112.34.On Wednesday, both benchmarks closed at their highest since March 8.
NEW YORK: Crude prices slid 2% on Thursday after the European Union (EU) could not agree on a plan to boycott Russian oil and on reports that exports from Kazakhstan's Caspian Pipeline Consortium (CPC) terminal could partially resume.
European Union leaders are set to agree at a two-day summit starting on Thursday to jointly buy natural gas as they seek to cut reliance on Russian fuels, with some saying they would not comply with Moscow's demand to buy oil and gas using roubles.
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