Monday, November 25, 2024
Oil erases gains after hitting 13-month highs- oil and gas 360

Oil erases gains after hitting 13-month highs

Reuters LONDON – Oil hit 13-month highs on Tuesday, supported by supply cuts, a weaker dollar and optimism over a recovery in fuel demand, but retraced some of its recent gains in early U.S. trading. Brent crude futures for April were down 35 cents, or 0.5%, to $60.21 a barrel at 1443 GMT. U.S. West Texas Intermediate crude (WTI) for