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Oil pulls back from highs as worries of overheating grow

Reuters  |  LONDON 

By Libby GeorgeLONDON (Reuters) - Oil prices pulled back from multi-year highs reached earlier in the day on Thursday as warnings grew that a 13 percent rally since early December was close to running its course. Brent crude futures were flat from the previous day at $69.20 a barrel at 1407 GMT. In earlier trading, it hit $69.62, its highest since an intra-day spike in May 2015 and just two cents away from the highest since 2014. U.S. West Texas Intermediate (WTI) crude futures were at $63.84, up 27 cents. The contract reached a high of $64.08 per barrel earlier in the day, its highest since ...

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First Published: Thu, January 11 2018. 19:56 IST