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Oil falls as demand plummets
11:12 - 26/01/2018
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Oil prices fell on Friday ahead of the end of the peak winter demand season in the northern hemisphere, although continued supply cuts and a weaker dollar gave the market broad support.
Brent crude futures were $ 70.22 a barrel by 0556 GMT, down 20 cents, or 0.3 percent, from the previous settlement. On Thursday, Brent crude hit its highest level since December 2014 at $ 71.28 a barrel.
US West Texas Intermediate crude futures were $ 65.38 a barrel, down 13 cents, or 0.2 percent, from the previous session. WTI also hit its highest level since December 2014 at the previous session at $ 66.66 a barrel.
Many of the refineries closed after winter for maintenance, causing a drop in crude orders
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