Brent edges further away from $70 level on build in U.S. stocks
TOKYO/LONDON - Oil prices fell for a second day on Thursday, with Brent briefly edging below $69 per barrel because of rising inventories and production in the United States, but losses were limited as supply tightened elsewhere.
U.S. West Texas Intermediate crude fell 18 cents to $62.28 a barrel. The contract dropped 12 cents in the previous session after hitting $62.99, also the highest since November. “There is a clear bias to the upside with the supply restrictions,” said Michael McCarthy, chief market strategist at CMC Markets in Sydney.
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