Oil futures lost some momentum on Friday morning after earlier extending the week’s rally on U.S. Federal Reserve minutes suggesting there was no hurry to raise interest rates and an influential forecaster’s prediction for higher prices.
Brent, the global benchmark, was down 22 cents at $52.83 a barrel at 9:33 a.m. EDT (1333 GMT), on track to rise about 10 percent this week alone.
U.S. crude was up 36 cents at $49.79 a barrel, after earlier touching $50.92, the highest level in more than two months.
The U.S. central bank’s meeting minutes showed more policymakers than expected agreed to keep the first interest rate hike in a decade on hold. The news also supported equity markets on Friday, with top European stocks climbing to a one-month high.