Oil Retreats After Hitting Six-Week Highs Near $70 A Barrel

[franco + 96]

Oil prices surrendered early gains on Thursday as investors booked profits after this week’s rally, but losses were limited by the ongoing efforts of OPEC and its allies to curb supplies.The oil prices have risen nearly 10 percent in the last two weeks, boosted by a weaker U.S. dollar and tensions between Iran and Saudi Arabia that raised concern about Middle East supplies, which are already restricted by an OPEC-led supply deal. Only the sky is the limit - I thought....