Oil futures pull back from five-month highs reached on supply concerns around U.S. sanctions and winter heating fuel demand.
"Crude oil finally caved under pressure from an overbought RSI," Mizuho's Robert Yawger says in a note, referring to the relative strength index. "Positioning is driving energy prices lower today. There is no associated bearish red headline."
Crude maintains support from demand for heating oil, which held out for a 0.1% gain as an Arctic blast is expected over large parts of the U.S. in the coming week. The WTI front month settles down 1.7% at $78.68, and Brent falls 0.9% to $81.29.
Source : Dow Jones Newswires
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