Oil Slips On Profit Taking

WASHINGTON (dpa-AFX) – Oil prices slipped on profit taking Wednesday after four days of consecutive gains in the aftermath of the OPEC+ announcement of further oil output cuts. The downside remained capped by a weaker dollar after overnight data showed weakness in the U.S. labor market. Brent crude futures slipped 0.1 percent to $84.88 a barrel, while WTI crude futures were down 0.2 percent at $80.58. The dollar wallowed near two-month lows as weak U.S. economic data this week fueled speculation that the Federal Reserve is at the end of its tightening cycle. Investment bank Goldman Sachs said the production…