Brent crude oil slips towards $66 before long weekend

Oil prices slipped on Friday as worries over the impact of war in the Middle East on crude supplies were outweighed by reports of profit-taking ahead of a long weekend.

Monday, May 25 is Memorial Day in the United States and a public holiday in much of Europe, leaving many markets closed.

US crude for July was down 30 cents at $60.42 a barrel, but poised to post gains for the 10th week in a row.

US crude stocks in delivery hub Cushing, Oklahoma, fell by almost 740,000 barrels between Friday and Tuesday, trade sources said, citing a report by market intelligence firm Genscape.

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Posted in: Indian Market Tips