Brent crude prices slip away from 5-month highs as Japan’s industry stutters

Oil prices slipped away from five-month highs in early Asian trading on Thursday as Japanese factory output weakened for the second straight month.

Japanese industrial output fell 0.3 per cent in March adding to mounting evidence of an export-driven economy struggling to regain momentum amid slowing global growth.

Brent crude futures dropped 26 cents from their last settlement to $65.58 a barrel by 0307 GMT. US WTI crude was virtually flat at $58.67 a barrel.

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Posted in: Indian Market Tips