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Oil prices decline after 3-day rise

Oil&Gas Materials 10 February 2023 04:07 (UTC +04:00)
Oil prices decline after 3-day rise

Oil prices fell on Thursday, snapping a three-day winning streak, Trend reports citing Xinhua.

The West Texas Intermediate (WTI) for March delivery dropped 41 cents, or 0.52 percent, to settle at 78.06 U.S. dollars a barrel on the New York Mercantile Exchange. Brent crude for April delivery lost 59 cents, or 0.69 percent, to close at 84.5 dollars a barrel on the London ICE Futures Exchange.

The pullback came as "traders took profits after the recent rally," Vladimir Zernov, analyst with market information supplier FX Empire, said on Thursday.

Also weighing on the market was a build in U.S. fuel stockpiles.

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