Oil prices resolve near $64 a barrel

Following Thursday's surge of two dollars, oil prices dropped marginally when traders took profit. Brent crude for May increased to US$68.97. U.S. gasoline stockpiles descended by 5.5 million barrels to 199.7 million barrels. Oil prices have been unstable after Iran seized 15 British sailors and marines. After the release of British sailors and marines oil prices went down by US$3. On Thursday, oil prices increased once more on a report by the International Energy Agency that output by the Organization of Petroleum Exporting countries is down to 2 year lows, attributed to production outages and self-imposed reductions. Geopolitics is also a factor shoring up sentiment after oil and gas was rocked by bomb attacks.