Oil edged up amid abundant supplies, thin trading due to US holiday

NEW YORK, N.Y. – Oil remained below US$93 a barrel Friday in light trading a day after the Thanksgiving holiday in the United States.

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

For the week, however, oil was down US$2.32 a barrel.

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

In other energy futures trading on Nymexm wholesale gasoline fell three cents to US$2.66 a U.S. gallon (3.79 litres), heating oil fell one cent to US$3.03 a gallon and natural gas rose 5.9 cents to US$3.95 per 1,000 cubic feet.