Oil prices dipped back slightly on Thursday after Egypt’s army ousted President Mohammed Morsi, having risen 3%-5% over the previous two days.
US light sweet crude fell two cents to below $101 a barrel, and Brent crude dropped 36 cents to $105.40.
But the gap between the US and European oil benchmarks continued to narrow.
The price of US crude had hit a 14-month high on Wednesday on concerns over political turmoil in Egypt, as well as rising US oil demand.
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