The price of both crude futures fell after hitting a near two-and-a-half year high in previous session as analysts suggest the rally was gradually running out of steam.
While Brent crude futures dropped to $66.27 a barrel, after breaking through $67 for the first time since May 2015, United States West Texas Intermediate (WTI) crude futures were at $59.53 a barrel.
WTI broke through $60 a barrel for the first time since June 2015 in the previous session.
On Tuesday, Libya lost around 90,000 barrels per day (bpd) of crude supplies from a blast on a pipeline feeding Es Sider port.
Repair of the pipeline could take about one week but will not have a major impact on exports, the head of Libyan state oil firm NOC told Reuters on Wednesday.
No comments:
Post a Comment