Global oil prices moved lower on Thursday, giving back some of the strong gains recorded in the previous trading session.
Brent crude futures dropped by $1.29 to $89.45 per barrel after pulling back from earlier highs.
Meanwhile, U.S. West Texas Intermediate (WTI) crude fell by 56 cents to settle at $83.90 per barrel.
Both major oil benchmarks lost part of the momentum they gained on Wednesday, as traders took profits and markets adjusted after the previous session’s sharp rise. Despite the decline, oil prices remain at relatively elevated levels compared to recent weeks.
