Refiners have profited in recent months as the spread widened between U.S. crude and Brent futures prices.U.S. West Texas Intermediate (WTI) crude futures slipped 13 cents to $59.51 a barrel as of 11:35 a.m. EST (1635 GMT), a day after briefly touching $60 a barrel. Brent crude futures fell 11 cents to $66.33 a barrel.This week, WTI broke through $60 a barrel for the first time since June 2015, while Brent breached $67 for the first time since May 2015. A Reuters monthly poll showed analysts expect Brent crude to stay close to $60 in 2018. China's crude inventories in November hit a seven-year low of 26.15 million tonnes, Xinhua data showed.Pipeline outages in Libya and the North Sea have also supported prices.

Source: The Star December 28, 2017 17:15 UTC