Oil prices fell in futures on Thursday after Saudi Arabia reduced the price of the main Arab Light crude to Asia , but prices are still near their highest levels in more than three months after a drop in US crude inventories.
It was futures trading for WTI US mediator at $ 49.55 a barrel by 0544 GMT , the low 28 cents , or about 0.6 percent from the last adjustment. And it decreased crude futures for International benchmark Brent 28 cents , or about 0.5 percent to $ 51.58 a barrel.
The futures rose to Khaman to their highest levels since June on Wednesday after the US Energy Information Administration said crude inventories fell three million barrels last week to $ 499.74 million barrels. Despite the decline, the stock is still near all -time highs.
Traders noted the operations to profit - taking selling after the price rise recently and said that falling prices on Thursday , reflecting the weakness in the spot market after Saudi Arabia reduced largest oil exporter Arabian light crude to customers Asia in November , signaling that the glut of global fuel supplies remain.
Jeffrey said Haley chief market analyst at Luanda brokerage in Singapore It 's near the price of $ 50 for a barrel of WTI US mediator, the shale oil producers Americans who have spent most of the year , cutting back their production is not profitable because of lower oil prices may begin to restart drilling rigs currently suspended from work .