Singapore,
Oil prices edged lower today in thin trade ahead of the year-end as traders awaited more economic data from China and the United States later this week to assess growth in the world’s two largest oil consumers.
Brent crude futures fell 8 cents to $74.09 a barrel, while the more active March contract was at $73.73 a barrel, down 6 cents.
US West Texas Intermediate crude dropped 5 cents to $70.55 a barrel.
Both contracts rose about 1.4% last week buoyed by a larger-than-expected drawdown from US crude inventories in the week ended 20 December 2025 as refiners ramped up activity and the holiday season boosted fuel demand.
Oil prices were also supported by optimism for Chinese economic growth next year that could lift demand from the top crude oil importing nation.
