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Oil dips away from three-year highs on signs of overheated market

Reuters  |  SINGAPORE 

By Henning GloysteinSINGAPORE (Reuters) - Oil dipped away from three-year highs on Thursday on signs that a 13-percent rally since early December may have run its course, although a surprise drop in U.S. production and lower crude inventories offered prices some support.U.S. West Texas Intermediate (WTI) crude futures were at $63.46 a barrel at 0753 GMT, 11 cents below their last settlement, though still close to a December-2014 high of $63.67 per barrel reached the previous day.Brent crude futures were at $69.05 a barrel, 15 cents below their last finish, albeit also still close to the ...

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First Published: Thu, January 11 2018. 13:31 IST
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