Oil prices fell in Asia on Thursday as investors took profits ahead of a high-profile weekend meeting in Saudi Arabia between oil producers and consumer nations, dealers said.
New York's main oil futures contract, light sweet crude for July delivery, fell 61 cents to 136.07 dollars a barrel after a jump of 2.67 dollars to a close of 136.68 dollars Wednesday at the New York Mercantile Exchange.
Brent North Sea crude for August delivery eased 54 cents to 135.90 dollars per barrel after a gain of 2.72 dollars to 136.44 dollars Wednesday in London.
"We see a little bit of profit-taking so far in Asia today," said Dave Ernsberger, Asia director of global energy information provider Platts.
"There are at least some people in Asia who think there is good value in selling at these prices."
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New York's main oil futures contract, light sweet crude for July delivery, fell 61 cents to 136.07 dollars a barrel after a jump of 2.67 dollars to a close of 136.68 dollars Wednesday at the New York Mercantile Exchange.
Brent North Sea crude for August delivery eased 54 cents to 135.90 dollars per barrel after a gain of 2.72 dollars to 136.44 dollars Wednesday in London.
"We see a little bit of profit-taking so far in Asia today," said Dave Ernsberger, Asia director of global energy information provider Platts.
"There are at least some people in Asia who think there is good value in selling at these prices."
Read the full article>>
