Oil prices mixed after falling

AFP, LONDON: Oil prices were mixed yesterday after falls the previous day caused by high US output, while the market also tracked talks concerning Iran’s nuclear programme.
US benchmark West Texas Intermediate for August delivery fell 23 cents to $60.04 from Wednesday’s close.
Brent North Sea crude for August edged up three cents to stand at $63.52 a barrel in London midday deals.
Prices had fallen Wednesday as the weekly US energy inventory report showed domestic output remaining at a high level. Meanwhile crude stockpiles, though down 4.9 million barrels, were still at a near-record 463 million barrels.
Oil prices slumped by more than half in value between last June and the start of this year but have since been largely steady.
“Looking at the market from a somewhat greater distance and ignoring the daily fluctuations, the market has actually seen little movement of late,” Commerzbank analysts said in a note to clients yesterday.

Oil prices mixed after falling

AFP, LONDON: Oil prices were mixed yesterday after falls the previous day caused by high US output, while the market also tracked talks concerning Irans nuclear programme. US benchmark West Texas Intermediate for August delivery fell 23 cents to $60.04 from Wednesdays close. Brent North Sea crude for August edged up three cents to stand at $63.52 a barrel in London midday deals. Prices had fallen Wednesday as the weekly US energy inventory report showed domestic output remaining at a high level. Meanwhile crude stockpiles, though down 4.9 million barrels, were still at a near-record 463 million barrels. Oil prices slumped by more than half in value between last June and the start of this year but have since been largely steady. Looking at the market from a somewhat greater distance and ignoring the daily fluctuations, the market has actually seen little movement of late, Commerzbank analysts said in a note to clients yesterday.