(RTTNews) - The price of crude oil moved down for a third session Thursday morning as traders await a slew of economic data today from the U.S., including weekly jobless claims numbers.
Light Sweet Crude Oil (WTI) futures for October delivery were down $0.72 to $75.30 a barrel.
The EIA in its weekly report released Wednesday said U.S. commercial crude oil inventories were down by 2.50 million barrels in the week ended September 10, in line with analysts estimates but sharply contrasting late Tuesday's API report that indicated rising stock piles.
Crude oil transporter Enbridge Inc. said it has completed repairs on its 670,000 per day crude oil pipeline, which was shutdown last Friday, and will restore services from September 17 morning.
Meanwhile, the U.S. dollar slipped to a fresh one-month low versus the euro after a successful bond auction by Spain reduced worries over the debt situation in the euro region. The buck was trading flat against sterling after UK reported fall in August retails sales, reversing last month's growth.
The greenback stalled after attempting to recover from its 15-year low versus the yen, even after the Japanese government said it would intervene the currency market again, if needed.
Today, traders will look to weekly jobless claims numbers. Economists expect jobless claims to increase to 460,000 from 451,000 reported for the previous week. Also, the government's producer price index and the Philadelphia Federal Reserve's manufacturing survey will be eyed.
