Oil prices fall as market weighs mixed supply signals
Oil prices slipped on Thursday in thin trade ahead of a public holiday, as traders weighed a larger-than-expected build in U.S. oil stocks against tightening global supply.
Brent futures were down 59 cents, or 0.5%, at $108.19 a barrel, while U.S. West Texas Intermediate futures were off 57 cents or 0.6%, at $103.68 a barrel at 0906 GMT.
Both contracts on Wednesday had shrugged off a build in U.S. crude inventories to end the trading session roughly 4% higher.
“Asian buyers have been absent today, with volumes potentially being curbed by the long weekend across most of Asia, Europe, and North America,” OANDA analyst Jeffrey Halley wrote in a note.
