Crude oil prices edged higher Thursday morning, holding above $30 a barrel for a second session.
Still, with Iranian oil set to come online following years of sanctions, analysts say all signs point to further declines in oil prices.
WTI light sweet crude for February delivery was up 33 cents or 1 percent to $30.80 a barrel, having plunged to a 12-year low of $29.93 earlier in the week.
Crude oil inventories in the US rose 234,000 barrels last week.
The Labor Department is due to release its jobless claims report for the week ended January 9th at 8:30 am ET. Economists expect claims to have fallen to 275,000 from 277,000 in the previous week.
The Bank of England maintained its record low interest rate and quantitative easing unchanged as expected.
The material has been provided by InstaForex Company – www.instaforex.com