Brent futures dipped on Thursday, but still held between $102 and $103 a barrel, as ample supply and a refinery fire in the United States that could reduce crude demand weighed on prices.
Global oil supply is expected to exceed demand this year, cooling prices. Oil futures on both sides of the Atlantic Basin are on track to post a second monthly decline.
October Brent crude has been unable to break through the $102-$103 range this week, just off a 14-month low hit last week. On Thursday, Brent was down 3 cents at $102.69 a barrel by 0639 GMT.
US crude slipped on news of the fire at BP's largest refinery in the United States. The October contract fell 25 cents to $93.63 a barrel.
Global oil supply is expected to exceed demand this year, cooling prices. Oil futures on both sides of the Atlantic Basin are on track to post a second monthly decline.
October Brent crude has been unable to break through the $102-$103 range this week, just off a 14-month low hit last week. On Thursday, Brent was down 3 cents at $102.69 a barrel by 0639 GMT.
US crude slipped on news of the fire at BP's largest refinery in the United States. The October contract fell 25 cents to $93.63 a barrel.
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