By Reuters | LONDON |
Topics Crude Oil Prices | Oil demand | crude oil supply
By Julia Payne
LONDON (Reuters) - Oil slipped from seven-month highs on Thursday as signs of growing supplies helped to halt a rally driven by optimism that COVID-19 vaccines will revive fuel demand.
Brent futures had risen to nearly $50 a barrel this week after three major pharmaceutical companies announced progress on vaccines that could start to be rolled out before the end of the year.
But Brent was down 67 cents, or 1.
38%, at $47.94 a barrel by 1535 GMT on Thursday, having dropped as much as $1. The contract gained about.
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