The price of crude oil was little changed Friday morning as traders await more clarity from the developments in the euro zone.
Light Sweet Crude Oil (WTI) futures for June delivery edged up $0.12 to $92.68 a barrel. Yesterday, oil extended losses for a fifth session to settle at a 6-month low on some soft economic data from the U.S. Oil prices were also impacted by continued worries over the Greece crisis and demand growth concerns after an Energy Information Administration report showed U.S. oil stockpiles to have increased more than expected.
This morning, the U.S. dollar was steady near its 4-month high versus the euro and near its two-month high against sterling. The buck was lingering near its 3-month low against the yen, while trading weak versus the Swiss franc
In economic news from the euro zone, Germany's producer price inflation slowed to the lowest level in twenty-two months in April, data released by the Federal Statistical Office showed. The output price inflation eased to 2.4 percent in April from 3.3 percent in March, while economists expected inflation to slow to 2.5 percent. The growth rate for April was the smallest since June 2010, when output prices increased 1.7 percent.
For comments and feedback: editorial@rttnews.com