Oil mixed, but solid US demand underpins sentiment
Oil prices were mixed on Thursday, paring earlier gains, as some investors scooped up profits from the recent rally while solid demand in the United States and a switch to fuel oil from coal and gas amid surging prices underpinned market sentiment.
Brent crude futures fell 11 cents, or 0.1 per cent, to $85.71 a barrel at 0355 GMT, reversing earlier gains that took the benchmark to the highest since October 2018. It rose 0.9 per cent the previous day.
US West Texas Intermediate (WTI) crude futures for December rose 5 cents, or 0.1 per cent, to $83.47 a barrel. November WTI crude, which expired on Wednesday, settled up 91 cents, or 1.1 per cent, after touching the highest since October 2014 earlier in the session.
