Brent trims losses, rises near $64

Oil prices waffled between positive and negative territory on Thursday amid quite holiday trading in US markets and the dollar stability, while the market digested US inventories data.

The Energy Information Administration (EIA) revealed yesterday a surge in US crude inventories by about 1.6 million barrels during last week, which was widely expected in the market.

US stocks and bond markets were closed today in observance of the Thanksgiving holiday and will resume tomorrow in a brief session.

Otherwise, the dollar index held at 98.3 points as of 21:07 GMT, and hit an intraday high of 98.4 and a low of 98.2.

Investors are anticipating developments in the US-China trade talks or the reveal of the date for signing the phase one trade deal.

As for oil, Brent crude futures fell by 0.3% to $63.8 a barrel as of 21:29 GMT, and hit a high of $64 dollars and a low of $63.1.