Oil prices fell modestly on Thursday as the market consolidated hefty gains fuelled by a weak dollar, strong equity markets, global recovery hopes and falling US crude inventories.
New York's main contract, light sweet crude for October delivery, dipped just four cents to 72.47 dollars a barrel.
London's Brent North Sea crude for November delivery dropped 12 cents to 71.55 dollars.
Oil prices held above 71 dollars, with any profit-taking pressure limited by the low level of the dollar, languishing near one-year lows against the euro on Thursday.
The dollar has been weakening in recent weeks as investors moved away from the safe-haven greenback to more risky investments, such as equities which have been enjoying a good run recently.
Oil Price History
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