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Indonesia News Portal for Traders | Financial & Business Updates

28 November 2024 03:12  |

Crude Futures Steady in Quiet Pre-Holiday Trade

Crude futures are little changed ahead of the U.S. Thanksgiving Day holiday, with the Israel-Hezbollah ceasefire taking some risk premium out of the trade.

U.S. inventory data were mixed, with a bigger-than-expected decline in crude oil stocks--the first draw in four weeks--offset by builds in gasoline and diesel stocks. A bullish aspect in the crude data was the drawdown at Cushing, the Nymex delivery hub, Ritterbusch says in a note. "With Cushing approaching a low level historically, some support would be expected into the WTI curve."

WTI slips 0.1% to $68.72 a barrel and Brent settles at $72.83 a barrel, up 2 cents. 

Source: Marketwatch

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