28 Apr '16, 1am

Crude oil prices take a breather after hitting 2016 highs: SINGAPORE (Reuters) - Crude futures pulled back fr...

SINGAPORE Crude futures pulled back from 2016 highs early on Thursday as traders locked in profits after April's sharp rally, but analysts said falling U.S. production and strong investor appetite could push prices higher. International Brent crude futures were trading at $47.02 per barrel at 0045 GMT, down 16 cents from their last settlement, and U.S. West Texas Intermediate (WTI) futures were down 12 cents at $45.21 a barrel. The price dip came after both crude benchmarks hit 2016 highs the previous day in what has been one of the steepest price rises in recent years. Both Brent and WTI have rallied more than 70 percent since their respective 2016 lows in January and February. Analysts said falling output in the United States and a weak dollar were pushing prices up and attracting investors. "The recent trend of rising crude oil prices received another boost after U.S. o...

Full article: http://www.reuters.com/article/us-global-oil-idUSKCN0XP04...

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