(RTTNews) - The price of crude oil edged down Wednesday morning amid thin trading and flat dollar.
Light Sweet Crude Oil (WTI) futures for February delivery, eased $0.34 to $101.00 a barrel. Yesterday, oil settled above $100 for the first time in two weeks, driven mostly by a jump in U.S. Consumer Confidence Index for December and supply concerns over Iran's sabre-rattling.
This morning, the U.S. dollar trading flat versus a basket of currencies. The buck was lingering near a weekly-low versus the euro, while struggling for direction versus the sterling, Swiss franc and the yen.
Today after the market hours, the API will release its report on U.S. crude oil inventories for the week ended December 23. Analysts expect crude oil inventories to dip by 2.30 million barrels last week.
