|News||Crude hovers near $88 amid light year end trading|
|Analysis||Crude traded above $88 per barrel today due to light trading volume ahead of the Christmas and New Year holidays, while analysts expect next year to hold promising surprises for demand on oil.|
Crude today hovers around $88 per barrel recording its highest around $89.03 and lowest around $88.33, while currently trading around $88.60 per barrel.
Trading in the upcoming two weeks is expected to remain light due to Christmas and New Year holidays as markets will close on Friday, while analysts forecast the upcoming new year to hold good news for demand on black gold.
Crude last Friday traded around $88 per barrel recording its highest around $89.16 and lowest around $87.70 per barrel, closing around $88.57 per barrel. Futures rose 34 cents last Friday, as the cold gripping Europe and US supported demand prospects.
As for NYMEX as of 04:27 EST; motor gasoline rose $0.52 recording $232.980 per gallon; heating is trading around $247.120 per gallon declining $0.10; whereas natural gasoline shed $1.03 to record $4.024. In London, Brent futures gained $0.13 to record $91.790.