Oil Pulls Back From 7-Week High as Traders Ponder Supply-Demand Uncertainty

Oil prices dip as investors take profits after seven-week high

By Sam Li and Trixie Yap (Reuters) -Oil prices edged down as investors booked profits after a jump to a seven-week high during the prior session on a surprise drop in U.S. weekly crude inventories and concerns Ukraine’s attacks on Russia’s energy infrastructure could disrupt supplies. Brent futures LCOc1 dropped 18 cents, or 0.26%, to $69.13 a barrel by 0013 GMT, while U.S. West Texas Intermediate (WTI) crude futures CLc1 dropped 20 cents, or 0.…

Oil pulls back from 7-week high as traders ponder supply-demand uncertainty

Oil prices eased in Asian trade on Thursday, retreating from a seven-week high reached in the prior session as some investors took money off the table due to uncertainty around the supply-demand outlook. Brent futures slipped 26 cents, or 0.4 per cent, to $69.05 a barrel by 0350 GMT, while U.S. West Texas Int

Oil jumps by most since July as surprise drop in U.S. inventories adds to supply concerns

Oil backs off 7-week high: What's behind the pullback?

As the peak demand season gradually ends, prices have yet to reflect expectations of mounting oversupply pressures The post Oil backs off 7-week high: What’s behind the pullback? appeared first on Gulf Business.