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Oil dips on rising U.S. supplies, market still tense on conflict in Syria

Reuters  |  SINGAPORE 

By Henning GloysteinSINGAPORE (Reuters) - Oil prices on Wednesday eased away from 2014 highs reached the previous session as escalating Middle East tensions were offset by increasing inventories and production in the United States.Brent crude futures fell to $70.80 per barrel at 0702 GMT, down 23 cents, or 0.3 percent, from their last close. Brent surged more than 3 percent on Tuesday to hit its highest level since late 2014, at $71.34 a barrel.U.S. WTI crude futures were at $65.40 a barrel, down 11 cents, or 0.2 percent from their last settlement.Markets have been tense on escalating ...

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First Published: Wed, April 11 2018. 12:39 IST
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