20-10-2016 13:11 via uk.news.yahoo.com

Oil slips as profits taken from strong rally

By Sabina Zawadzki LONDON (Reuters) - Oil prices fell on Thursday on profit-taking, after markets rallied the previous day on another unseasonal draw in U.S. crude oil stocks helping bullish sentiment from an expectation of an OPEC-led cut in production. U.S. West Texas Intermediate (WTI) crude oil futures were at $51.03 per barrel at 1100 GMT, down 57 cents from their last close. "Today we are drifting lower with WTI crude oil finding resistance at $52.
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