Oil futures edge lower early Thursday, giving up earlier gains seen after the U.S. benchmark briefly trades above $95 a barrel.
Oil futures edged lower early Thursday, giving up gains that had seen the U.S. benchmark trade above the $95-a-barrel threshold for the first time in a year as investors weighed tightening U.S. crude inventories.
“Market focus is shifting back to the tightening in the physical market, which outweighs a weakening risk appetite amid broader market jitters,” said UBS analysts led by Henri Patricot.
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