Oil prices decline after sharp gains
Xinhua,January 06, 2018 Adjust font size:
NEW YORK, Jan. 5 (Xinhua) -- Oil prices decreased on Friday after climbing sharply in the previous sessions.
Oil prices rallied over 2 percent earlier this week to the highest level since 2015, as political tensions in Iran, the third-largest producer in the Organization of the Petroleum Exporting Countries, had intensified market concerns about oil supply.
Analysts said oil prices went down on Friday as investors took profits from recent gains.
The West Texas Intermediate for February Delivery lost 57 U.S. cents to settle at 61.44 dollars a barrel on the New York Mercantile Exchange, while Brent crude for March delivery erased 45 cents to close at 67.62 dollars a barrel on the London ICE Futures Exchange. Enditem