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Oil economy drops but stays near $ 60[/size]
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2 hours ago
Oil economy drops but stays near $ 60[/size]
2 hours ago
Oil prices fell on Wednesday to continue their losses for the second day in a row, but a drop in US crude inventories unexpectedly helped keep prices near a 26-month high this week.
The dollar's surge touched a one-month high against the euro, following the US central bank's hint that interest rates would continue to rise on commodity markets and hurt oil prices.
At 1055 GMT, Brent crude for November delivery was down 31 cents at $ 58.13 a barrel. US crude futures were little changed for November and settled at $ 51.88 a barrel.
Turkey's repeated threats to cut oil exports from Iraq's Kurdistan region have pushed prices closer to $ 60 a barrel on Monday for the first time since June 2015.
US stocks fell 761,000 barrels last week as refiners boosted output, beating market expectations for a fourth straight week.
The US Energy Information Administration (EIA) announces the official inventory data at 1430 GMT on Wednesday.
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