Crude oil futures ticked lower in London Friday as the market's focus turned to the macroeconomic environment and the negotiations between European Union leaders in Brussels.
Volumes are expected to be low for a second day, with many U.S. market participants still out for the Thanksgiving holiday. Japanese markets were also closed.
At 1035 GMT, the front-month January Brent contract on London's ICE futures exchange was down 14 cents at $110.41 a barrel.
The front-month January light, sweet crude contract on the New York Mercantile Exchange was trading 29 cents lower at $87.09 a barrel.
VTB Capital, in a note to clients, said it expects a little more downside for prices Friday as the market's attention turns back to macro headlines. Some key euro-zone business survey's are due Friday from Germany'sIfo Institute and France's INSEE, while the European Union leaders debate a new budget plan for 2014-2020.
The ICE's gasoil contract for December delivery is down 50 cents at $947.00 a metric ton, while Nymex gasoline for December delivery is down 220 points at 2.7225 cents a gallon.
Write to Ben Winkley at ben.winkley@dowjones.com
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