Oil dips after US stockpiles climb, Middle East tensions in focus
SINGAPORE: Oil prices fell on Thursday after a rise in US crude stockpiles and a climb in the dollar index, giving up some ground gained a day earlier when prices jumped on Middle East tensions.
Brent crude futures declined by 28 cents or 0.3% to $89.95 a barrel at 0340 GMT, while US West Texas Intermediate crude futures eased 18 cents or 0.2% to $85.21 a barrel.
The benchmark oil contracts had settled nearly 2% higher on Wednesday but fell back after the Wall Street Journal reported that Israel has agreed to delay an expected invasion of Gaza for now.
