Oil prices dipped on Thursday but remained near June highs reached the previous session when they were buoyed by a fall in US crude inventories.

 US West Texas Intermediate (WTI) crude oil futures were trading at USD 49.63 per barrel at 0051 GMT, down 20 cents from their last settlement. International Brent crude futures were down 24 cents at USD 51.62 per barrel.  Traders said the price dips early on Thursday were largely a result of profit-taking following strong price rises the day before.

  Both contracts hit their highest levels since June on Wednesday after the US Energy Information Administration (EIA) said crude stockpiles fell 3 million barrels last week to 499.74 million barrels, and as international oil markets prepared for a planned output cut by the Organization of the Petroleum Exporting Countries (OPEC).For More Information RipplesAdvisory,Ripples_Advisory,Ripples Market Tips Ripplesadvisory.com and you can call us on :-9827808090.