Crude prices edge up after intraday fluctuation

08:26, December 10, 2010      

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Crude oil prices ended slightly up on Thursday after a fluctuating trading day between gains and losses.

On Thursday, U.S. economy gave investors more hope with positive employment and wholesale reports.

Labor Department said the number of people filing for jobless claims dropped by 17,000 to a seasonally-adjusted 421,000 in the week ending Dec. 4, the second-lowest level this year.

The four-week average of initial claims, a less-volatile measure, dropped for the fifth straight week to 427,500, which was the lowest in more than two years.

Meanwhile, a separate report from the Commerce Department showed wholesale sales rose 2.2 percent to a seasonally adjusted 362.1 billion U.S. dollars, much more than expected.

But the crude prices followed the U.S stocks'waver, seesawing between 87.71 dollars a barrel to 89.42 dollars a barrel.

Light, sweet crude for January delivery was up 9 cents to 88.37 dollars a barrel on the New York Mercantile Exchange.

Source: Xinhua

(Editor:李佳)

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