Oil near $92 as U.S. holidays thin trading

PanARMENIAN.Net - Oil was little changed near $92 a barrel Friday, Nov 29, as holidays in the U.S. thinned trading, the Associated Press reports.

Benchmark U.S. crude for January delivery was up 2 cents at $92.32 a barrel at late afternoon Bangkok time in electronic trading on the New York Mercantile. Crude's last settlement was Wednesday as open outcry trading on the Nymex was closed for Thanksgiving.

Oil has declined from about $110 in September due to reduced tensions in the oil-rich Middle East but above all to muted demand and high supplies.

Brent crude, a benchmark for international oils, was down 6 cents at $110.80 a barrel on the ICE exchange in London.

In other energy futures trading on Nymex: Wholesale gasoline was steady at $2.694 a gallon; Heating oil shed 0.6 cent to $3.037 a gallon; Natural gas added 3.7 cents to $3.932 per 1,000 cubic feet.