(RTTNews) - The price of crude oil was little changed Thursday morning as traders await cues from the political developments in the Greece.
Light Sweet Crude Oil (WTI) futures for June delivery were up $0.10 to $92.91 a barrel. Yesterday, oil ended at a near six-month low as continued concerns over the Greece crisis sparked-off commodity sell-offs. Adding to the pressure on crude prices were demand growth concerns after an Energy Information Administration report showed U.S. oil stockpiles to have increased more than expected.
Wednesday during trading hours the EIA said that US crude oil inventories jumped by 2.10 million barrels, while gasoline stocks eased 2.80 million barrels in the weekended May 11. Analysts were expecting crude oil inventories to jump 1.7 million barrels, while gasoline stocks are seen shedding 500,000 barrels last week.
This morning, the U.S. dollar was steady near its 4-month high versus the euro and near its one -month high against sterling. The buck was leveling off from its monthly low versus the yen, while trading flat against the Swiss franc.
Traders will look to the weekly jobless claims data from the U.S., due out at 8.30 a.m ET. Economists expect claims to decline to 365,000 in the recent reporting week from 367,000 in the previous week.
