Oil prices fell in Asia on Friday in thin trade following the US Thanksgiving holiday, with a truce in Gaza and gloomy eurozone manufacturing data weighing on markets, analysts said.
New York's main contract, light sweet crude for delivery in January shed 59 cents to USD 86.79 a barrel and Brent North Sea crude for January delivery sank 19 cents to USD 110.36.
'Petroleum prices dipped in thin trade, as a ceasefire in the Gaza Strip eased supply concerns,' Phillip Futures said in a report.
'Gloomy manufacturing data for Europe' also pulled down prices, he said.
An uneasy peace continued to hold in Gaza after the Egyptian-brokered ceasefire came into effect late Wednesday and halted eight days of conflict between Israel and Hamas.
Israel Prime Minister Benjamin Netanyahu claimed on Thursday that his government was ‘giving the ceasefire a chance’ but was prepared for the eventuality that it would ultimately collapse.
New York's main contract, light sweet crude for delivery in January shed 59 cents to USD 86.79 a barrel and Brent North Sea crude for January delivery sank 19 cents to USD 110.36.
'Petroleum prices dipped in thin trade, as a ceasefire in the Gaza Strip eased supply concerns,' Phillip Futures said in a report.
'Gloomy manufacturing data for Europe' also pulled down prices, he said.
An uneasy peace continued to hold in Gaza after the Egyptian-brokered ceasefire came into effect late Wednesday and halted eight days of conflict between Israel and Hamas.
Israel Prime Minister Benjamin Netanyahu claimed on Thursday that his government was ‘giving the ceasefire a chance’ but was prepared for the eventuality that it would ultimately collapse.