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The West Texas Intermediate (WTI) oil futures are currently trading at around $48 per barrel this morning. Baker Hughes Inc. reported another...
(Reuters) -Oil prices edged lower on Monday in thin trade ahead of the Christmas holiday on concerns about a supply surplus next year and a strengthened dollar.
Brent crude futures settled down 31 cents, or 0.43%, at $72.63 a barrel. U.S. West Texas Intermediate crude futures fell 22 cents, or 0.32%, to $69.24 a barrel.
Macquarie analysts projected a growing supply surplus for next year, which will hold Brent prices to an average of $70.50 a barrel, down from this year's average of $79.64, they said in a December report.
Concerns about European supply eased on reports the Druzhba pipeline, which sends Russian and Kazakh oil to Hungary, Slovakia, the Czech Republic and Germany, has restarted after halting on Thursday due to technical problems at a Russian pumping station.
The U.S. dollar was hovering around two-year highs on Monday morning, after hitting that milestone on Friday.
It’s almost time to unwrap those presents: Christmas is coming up on Dec. 25,🎄 and so is Hanukkah 🕎, the eight-day Jewish festival of lights, which begins this year on the evening of the 25th.
With all this holiday activity, it’s worth keeping in mind what will be open and closed when. Here’s our quick guide.
Is the stock market open on Christmas Eve and Christmas Day?
The two major stock markets — the New York Stock Exchange and the Nasdaq — will close early on Dec. 24, at 1 p.m. Eastern time, and will remain closed on Dec. 25.🎄
Bond markets will close at 2 p.m. on Dec. 24 and will remain closed on Dec. 25.🎄
Trading on all financial markets resumes Dec. 26.
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