26-12-2014 04:39 via news.yahoo.com

Brent holds above $60, but heads for fifth weekly drop

By Henning Gloystein SINGAPORE (Reuters) - Brent crude futures held above $60 a barrel on Friday as strong U.S. economic data supported the market, but oil prices were track for their fifth straight weekly decline as a building supply glut capped gains. On the supply side, data suggested an increasing glut as U.S. data showed crude inventories unexpectedly rose by 7.3 million barrels last week to their highest December level on record. Analysts had expected a seasonal draw. Yet on the demand sid
Read more »