SINGAPORE: OilNSE 1.80 % prices dipped on Thursday after data showed record US crude oil production, which resulted in a surge in stockpiles.
Outside the United States, however, oil markets remained tense as all exemptions to US sanctions on Iran expire, the political crisis in Venezuela escalates, and as producer club OPEC keeps withholding supply.
Spot Brent crude futures, the international benchmark for oil prices, were at $72.09 per barrel at 0032 GMT, down 9 cents, or 0.1 per cent, from their last close.
