Oil prices were mixed on Thursday, with Brent edging higher toward the psycholog...
TOKYO - Oil prices were mixed on Thursday, with Brent edging higher toward the psychologically important $70 level after easing in the previous session on data showing a surprise build in U.S. inventories.
U.S. West Texas Intermediate crude fell 3 cents to $62.43 a barrel. The contract dropped 12 cents in the previous session after briefly hitting $62.99, also the highest since November. “And there’s a much better than expected demand picture after the recent China and U.S. PMI numbers, along with a potential kicker from any U.S.-China trade agreement,” he said.
Crude oil is also supported by an agreement between the Organization of the Petroleum Exporting Countries and allies such as Russia, a group known as OPEC+, to reduce oil output by about 1.2 million bpd this year.
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