Oil prices ease from 3-year highs after Brent crude rockets above $70 a barrel
Brent Crude oil hit a more than three-year high on Thursday, breaking through the psychologically important $70 a barrel level for the first time since December 2014.
Oil futures failed to hold the gains, selling off as the close of trading approached, with analysts warning that the market might have little room left to run.
Brent, the international benchmark for oil prices, was last up 6 cents at $69.26 a barrel. It earlier spiked to $70.05 in morning trade, touching its highest level since Dec. 4, 2014, when the contract hit $70.60….