Crude Oil Prices Slip in Holiday Trade; WTI Holds Near 2015 High
Oil prices were a bit lower on Thursday, but still remained near their highest level in two-and-a-half years amid optimism that the crude market was well on its way towards rebalancing.
U.S. West Texas Intermediate (WTI) crude futures shed 12 cents, or about 0.2%, to $57.92 a barrel by 3:45AM ET (0845GMT). It touched its highest level since July 2015 at $58.15 in the last session.
Meanwhile, Brent crude futures, the benchmark for oil prices outside the U.S., were at $63.21 a barrel, down 18 cents, or around 0.3%, from its last close.
Trade volumes were expected to remain light on Thursday, with U.S. markets closed for the Thanksgiving holiday.