Oil holds near 13-month high, supported by sharp drop in US output

NEW YORK: Oil prices held near 13-month highs on Thursday, with profit-taking limited by an assurance that US interest rates will stay low and a sharp drop in US 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 US West Texas Intermediate (WTI) crude rose 44 cents, or 0.7%, to $63.66. The April Brent contract expires on Friday.