Singapore — Oil prices eased on Thursday, with US crude dipping away from two-year highs reached the day before, but the shutdown of the Keystone pipeline and a drawdown in fuel inventories continued to bolster markets despite concern about rising output. US West Texas Intermediate (WTI) crude futures were at $57.89 a barrel at 4.37am GMT, down 13c or 0.2% from their last settlement, but still close to the 2015 highs of $58.15 a barrel reached on Wednesday. Brent crude futures, the international benchmark for oil prices, were at $63.17 a barrel, down 15c or 0.2% from their last close. WTI has been buoyed by the shutdown of the 590,000-barrel-a-day Keystone pipeline, one of the largest crude pipelines from Canada to the US, as well as by another drawdown in commercial fuel inventories that came despite record US oil production. US crude inventories fell 1.9-million barrels in the week to November 17, to 457.14-million barrels. Stocks have dropped by 15% from their records in March, t...
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