Oil hits 2016 highs before turning lower on profit taking

By Ahmad Ghaddar LONDON (Reuters) - Oil prices fell on Thursday as traders took profits after three sessions of gains and after reaching 2016 highs thanks to a fall in U.S. crude inventories and supply disruptions. Brent crude oil futures were down 90 cents a barrel at $51.61 (£35.65) a barrel at 1316 GMT (1416 BST), after setting a 2016 high of $52.86. "If you look at the week behind us ... there was support for commodities from the currency side, the equity side, and the emerging markets