TOKYO :Oil prices were mixed on Thursday, paring earlier gains, as some investors scooped up profits from the recent rally while solid demand in the United States and a switch to fuel oil from coal and gas amid surging prices underpinned market sentiment.
"We saw some correction with Brent, but overall sentiment remained bullish as there have been no large increases in output by the United States or OPEC," said Satoru Yoshida, a commodity analyst with Rakuten Securities. Oil refiners are ramping up output to meet a synchronised uptick in demand across Asia, Europe and the United States, but plant maintenance and high natural gas prices are expected to constrain supply in the fourth quarter.
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