Oil futures pulled back on Thursday from the mulitmonth highs they saw a day earlier, with the U.S. benchmark settling below the key $60 mark as global crude prices suffered their first loss in four sessions.
Prices for both benchmark had climbed by more than 1% Wednesday after U.S. government data showed an unexpectedly large fall in domestic crude inventories.
On its first full session as a front-month contract, West Texas Intermediate crude for May delivery on the New York Mercantile Exchange fell 25 cents, or 0.4%, to settle at $59.98 a barrel after tapping a high of $60.39. May Brent crude lost 64 cents, or 0.9%, to $67.86 a barrel on ICE Futures Group.
Source : Market Watch