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Oil eases as rising output weighs, but still near 9-week highs

Reuters  |  SEOUL 

By Jane ChungSEOUL (Reuters) - Oil prices edged down on Monday but still held near nine-week highs, supported by robust U.S. jobs data last week and a slight fall in the U.S. drill rig count, even as rising output from OPEC reined in crude markets. Global benchmark Brent crude futures were down 17 cents, or 0.32 percent, at $52.25 a barrel at 0540 GMT. U.S. crude futures were down 15 cents, or 0.30 percent, at $49.43 per barrel. Prices for both benchmarks have been holding near their highest since late May, when oil producers led by the Organization of the Petroleum Exporting Countries ...

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First Published: Mon, August 07 2017. 11:18 IST