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Friday, 05 February 2016 - 15:11
Crude Oil Prices Steady In Thin Asian Trading Ahead Of Lunar New Year
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Crude oil futures were steady in lackluster trading on Friday as Asian liquidity faded ahead of the Lunar New Year holiday across large parts of the region.

International benchmark Brent crude futures were trading at $34.41 per barrel at 0539 GMT, a notch below their last settlement while U.S. West Texas Intermediate (WTI) crude futures were up 6 cents at 31.78 a barrel.

Traders said liquidity was low due to the Lunar New Year holiday which will last for most of next week.

Oil prices have been extremely volatile since the start of the year, and in particular this week, as a string of bullish indicators like a slump in the dollar and potential talks on output cuts clashed with bearish reports of record U.S. crude inventories, higher output and a slowing global economy.

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