Brent Oct crude ends lower on reserves release talk
NEW YORK |
NEW YORK Aug 17 (Reuters) - Brent October crude futures fell on Friday on talk of possible releases of strategic petroleum reserves, expectations that North Sea output will rebound after maintenance production curbs next month and on spread-trade profit taking after Brent's premium to U.S. crude stretched to more than $22 this week.
Brent October crude, in its first session in front-month position, fell $1.56, or 1.35 percent, to settle at $113.71 a barrel.
For the week, Brent crude managed to gain 76 cents, or 0.67 percent, to post a third straight weekly rise. (Reporting by Robert Gibbons)
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