Crude oil prices dipped over one-and-a-half percent on Thursday after supply concerns eased amid a larger-than-expected build in US oil stocks. As of 1325 hours GMT, Brent, the international benchmark for two-thirds of the world’s oil, shed $1.65 (-1.52 percent) to reach 107.13 a barrel.
The West Texas Intermediate (WTI), the main oil benchmark for North America, fell to $102.57 a barrel, down by $1.68 (-1.61 percent). The price for Opec basket was recorded at $106.07 a barrel with an increase of 3.59 percent. Oil stocks in the US rose by more than 9 million barrels last week, the US Energy Information Administration said on Wednesday.—TLTP
