Crude oil prices eked out modest gains Tuesday morning ahead of third release of third-quarter U.S. gross domestic product due at 8:30 a.m. Eastern Time.
Economists expect the GDP for the quarter to be downwardly revised to 2 percent from 2.1 percent.
With most traders away from their desks for Christmas, volumes are expected to remain light for the rest of the week.
Crude oil for February was up 9 cents at $35.91 a barrel, staying near December’s 6-year lows.
Barring a significant move in either direction, crude oil prices will be down about 35 percent this year.
A global supply glut and strong U.S. dollar have seen prices collapse in the second half of the year.
The American Petroleum Institute will release its inventories report this afternoon.
The material has been provided by InstaForex Company – www.instaforex.com