TOKYO : Oil prices moved little in early Asian trade on Thursday as the prospect of tighter supply with output cuts from Saudi Arabia and Russia and a bigger-than-expected drop in U.S. crude stocks were offset by worries over a sluggish demand recovery in China.Brent crude futures was down 2 cents to $76.
TOKYO : Oil prices moved little in early Asian trade on Thursday as the prospect of tighter supply with output cuts from Saudi Arabia and Russia and a bigger-than-expected drop in U.S. crude stocks were offset by worries over a sluggish demand recovery in China.
U.S. West Texas Intermediate crude was at $71.90 a barrel, up 11 cents, or 0.2 per cent, after closing 2.9 per cent higher in post-holiday trade on Wednesday to catch up with Brent's gains earlier in the week. "Still, the upside looks to be limited due to uncertainty over the pace of China's economic growth and fuel demand recovery," he said, predicting WTI would remain in a range of $65 to $75 a barrel going forward.
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