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Oil set for second weekly fall as rising U.S. supply weighs

Reuters  |  NEW YORK 

By Ayenat MersieNEW YORK (Reuters) - Oil prices fell on Thursday and were setting up for a second consecutive weekly drop as the dollar strengthened and concerns over rising U.S. crude production continued to mount on signs of an inventory build at a key U.S. storage hub. Brent crude futures fell 65 cents, or 1 percent, to $63.68 per barrel by 12:10 p.m. EST (1510 GMT). U.S. West Texas Intermediate (WTI) crude futures fell 83 cents, or 1.3 percent, to $60.32 per barrel.Brent was on track for a drop of around 0.9 percent this week, after last week's 4.4 percent slide. WTI was on track for ...

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First Published: Thu, March 08 2018. 23:26 IST