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Crude Oil On Verge Of Cracking $60

Crude oil futures were steady Thursday morning after another surprisingly large drop in U.S. oil inventories.

API reported a draw of 6 million barrels of oil last week, the fourth straight decline that surpasses analyst expectations.

EIA is out with the government's report this morning.

Crude oil futures raced higher early in the week amid outages in Libya and the North Sea.

WTI light sweet crude oil is flat at $59.66 a barrel this morning, having touched a 2-year peak near $60.

Weekly jobless claims for last week are due at 8:30 a.m. ET, along with data on advance trade in goods for November. The purchasing managers index for Chicago at 9:45 a.m.

by RTTNews Staff Writer

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