Oil Futures Close Shy of $91, But Post Weekly Win

By Midnight Trader,  December 28, 2012, 02:49:13 PM EDT

Oil futures slipped Friday, giving up earlier gains following a government report showing a smaller-than-expected decline in the nation's crude supplies last week, MarketWatch reported.

Crude for February delivery shed 7 cents, or 0.1%, to settle at $90.80, but finished off session lows. Oil finished the holiday-shortened week higher by 2.4%.

The Energy Information Administration on Friday reported crude supplies for the week ended Dec. 21 fell by 600,000 barrels. Analysts polled by Platts had expected a 2 million-barrel drawdown.




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Commodities

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