Crude oil prices continued to fall Thursday, a fitting end to a year that has seen staggering losses.
WTI light, sweet crude oil for February was down 36 cents at $36.25 a barrel, edging back near its lowest since 2009. Crude oil is set to post a yearly loss of 40 percent.
Saudi officials said yesterday the will keep pumping oil to meet future demand while preserving their market share.
At the same time, U.S. stockpiles were on the rise again.
The Energy Information Administration reported U.S. crude inventories rose by 2.6 million barrels last week. Expectations were for a decline.
The Labor Department is scheduled to release its jobless claims report for the week ended December 26th at 8:30 am ET. Economists expect claims to have increased to 270,000 from 267,000 in the previous week.
The material has been provided by InstaForex Company – www.instaforex.com