Oil edges up in thin post-holiday trade

Source: Agencies | November 30, 2013, Saturday |

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Oil remained below US$93 a barrel yesterday, in light trading a day after the Thanksgiving holiday in the US.

For the week, oil fell by US$2.32 a barrel.

At the gas pump, the average price of a gallon of gasoline is US$3.28. That's up 4 cents from a week ago, but down 13 cents from this time last year.

The nationwide average is the cheapest for the day after Thanksgiving since 2010.

Benchmark US crude for January delivery rose 42 cents to close at US$92.72 a barrel yesterday on the New York Mercantile Exchange.

Brent crude, a benchmark for international oils, was down US$1.17 at US$109.69 a barrel on the ICE exchange in London.

In other energy futures trading on Nymex:

— Wholesale gasoline fell 3 cents to US$2.66 a gallon.

— Heating oil fell 1 cent at US$3.03 a gallon.

— Natural gas rose 5.9 cents to US$3.95 per 1,000 cubic feet.

Energy