Oil prices ease lower in fading risk and profit-taking

Easing geopolitical tensions over Syria helped drag crude oil prices lower early Thursday, even as data show total OPEC crude oil production moved lower.

Crude oil prices are up more than 5 percent since the start of the week, largely supported by geopolitical risk tied to a possible multilateral military engagement in Syria. U.S. President Donald Trump spooked markets Wednesday by suggesting a missile strike could be imminent, but he walked back that rhetoric early Thursday.

Through his Twitter account, the president claimed he hadn’t offered an indication of when a strike would take place…

 

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