IV:NYMEX crude oil down in Asia in thin trade ahead of U.S. holiday
Investing.com - Crude oil prices eased on Thursday in Asia following data overnight that showed U.S. supplies more than ample in thin trade ahead of the U.S. Thanksgiving Day holiday.
On the New York Mercantile Exchange, light sweet crude futures for delivery in January traded at USD92.20 a barrel, down 1.58%. Overnight the commodity hit a session low of USD92.05 and a high of USD93.82.
The U.S. Energy Information Administration said in its weekly report that U.S. crude oil inventories rose by 3 million barrels in the week ended Nov. 22, well above expectations for an increase of 600,000 barrels.
Total U.S. crude oil inventories stood at 391.4 million barrels, the highest since June.
Brent crude on the ICE futures exchange rose or 0.39% to $111.31 a barrel on Wednesday, widening the gap with NYMEX crude oil to the highest level since March as labor unrest in Libya stokes higher prices for the European benchmark.
