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Crude Oil Flat Ahead Of U.S. Inventories

Crude oil futures were flat Tuesday ahead of U.S. inventories data.

The American Petroeleum Institute is out with its industry survey this afternoon, followed tomorrow by a report from the Energy Information Administration.

Jan. WTI oil added 15 cents, or 0.3%, to settle at $57.62/bbl.

Oil has turned lower over the past few sessions as the US dollar strengthened on rate hike chatter.

Activity in the U.S. service sector grew at a slower than expected rate in the month of November, the Institute for Supply Management revealed in a report released on Tuesday.

The ISM said its non-manufacturing index dropped to 57.4 in November from 60.1 in October, although a reading above 50 still indicates growth in the service sector. Economists had expected the index to dip to 59.0.

by RTTNews Staff Writer

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