Oil holds near 13-month high, supported by sharp drop in US output
NEW YORK (Reuters) – Oil prices held near 13-month highs on Thursday, with profit-taking limited by an assurance that U.S. interest rates will stay low and a sharp drop in U.S. crude output last week due to the winter storm in Texas.
Brent futures for April delivery rose 10 cents, or 0.2%, to $67.14 a barrel by 11:36 a.m. EST (1636 GMT), while U.S. West Texas Intermediate (WTI) crude rose 44 cents, or 0.7%, to $63.66. The April Brent contract expires on Friday.
