Oil prices fall on profit taking, strong dollar

By  Trend

Oil prices slipped on Friday in thin Asian trade ahead of the Christmas and New Year holidays, wiping out some of the gains in the previous session as traders took profits, Reuters reported.

U.S. West Texas Intermediate crude CLc1 fell 31 cents to $52.64 a barrel as of 0127 GMT after settling 46 cents, or 0.9 percent, up in the previous session.

Brent futures LCOc1 for February delivery dropped 30 cents to $54.75 a barrel after ending the previous session up 59 cents, or 1.1 percent.