Brent Slips Towards $103 on Weak Data; US Stock Draw Aids

Brent futures slipped towards $103 a barrel on Thursday as a sharper-than-expected drop in U.S. factory output muddied the outlook for demand, but a surprise drawdown in crude stockpiles in the world’s top consumer helped stem the slide.

The uncertain global outlook at a time when supplies are rising weighed on oil, making it difficult for prices to move much higher from current levels.

Currently Brent trading at $ 103,14 and WTI at $ 93,54.