LONDON: Global oil prices fell yesterday as dealers took profits after a recent rally on robust US jobs data and rising tensions in the Middle East, analysts said.
Brent North Sea crude for delivery in June dropped 46 cents to $105 a barrel in late London deals.
New York’s main contract, light sweet crude for June shed 73 cents to $95.43 a barrel.
“People are squaring up on what has been a fairly good rally,” said David Lennox, an analyst at research group Fat Prophets.
“Strong payroll numbers from the United States took the market a little by surprise. The US has been weak for so long, so dealers are waiting for that consistent growth,” he said.
AFP
