Oil Prices Slip Towards 18-Month Lows Ahead Of New Year

Oil prices fell on Dec. 28, shedding early gains on profit-taking ahead of the New Year holiday as global crude benchmarks moved back towards their lowest levels in more than a year.

Brent crude oil fell 56 cents to a low of $51.60/bbl before recovering some ground to trade around $52.05 by 1300 GMT, having earlier risen more than 3%. The futures contract dropped 4.2% on Dec. 27.