SINGAPORE: Oil prices slipped on Thursday after an unexpected rise in U.S. crude oil inventories and as rising COVID-19 infections threaten demand, but prices held on to most of their gains from the previous session on expectations that supplies will remain tight through year-end.
Brent crude fell 11 cents, or 0.2%, to $72.12 a barrel at 0644 GMT, after rising 4.2% in the previous session. U.S. West Texas Intermediate (WTI) crude fell 6 cents, or 0.1%, to $70.24 a barrel, after rising 4.6% on Wednesday.
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