Oil prices fell on Thursday as the prospect of increased crude production from Saudi Arabia and Russia prompted profit-taking the day after futures hit four-year highs on a boost from imminent U.S. sanctions on OPEC’s No. 3 producer Iran.  Brent crude LCOc1 futures fell $1.71, or 1.98 percent, to settle at $84.58 a barrel. On Wednesday, Brent rose to a late 2014 high of $86.74. U.S. West Texas Intermediate (WTI) crude CLc1 futures fell $2.08 to settle at $74.33 a barrel, a 2.72 percent loss. Market participants took profits after Brent on Wednesday climbed to the most technically overbought level since February 2012. WTI was the most overbought since January. The relative strength index (RSI) for both Brent and U.S. crude rose this week […]