Oil prices slipped modestly Thursday, tugged down by weaker Chinese economic data and lower stock-market action after U.S.-North Korea nuclear talks ended without a deal.
Prices gained Wednesday after Saudi Arabia affirmed its commitment to reducing output, then got an added boost after data revealed an unexpected weekly drop in U.S. crude supplies — the first decline in six weeks.
April West Texas Intermediate crude steadied to near $56.95 a barrel on the New York Mercantile Exchange, after trading lower earlier. The contract jumped 2.6% Wednesday, for the biggest one-day dollar and percentage increase since Feb. 1, according to Dow Jones Market Data.
Global benchmark April Brent which expires at Thursday's settlement, fell 35 cents, or 0.5%, to $66.04 a barrel on ICE Futures Europe.
Source : Marketwatch