Oil erased some gains after its biggest price rally since the attacks on Saudi facilities five weeks ago following a surprise decline in U.S. crude stockpiles.
West Texas Intermediate for December delivery lost 47 cents to $55.50 a barrel on the New York Mercantile Exchange as of 10:40 a.m. Singapore time. The contract added $1.49 to close at $55.97 on Wednesday, the biggest increase since Sept. 16.
Brent for December settlement fell 34 cents, or 0.6%, to $60.83 a barrel on the London-based ICE Futures Europe Exchange. The contract rose $1.47 to $61.17 on Wednesday. The global benchmark crude traded at a $5.32 premium to WTI.
Source : Bloomberg