Crude-oil futures fell in electronic trading Friday as concerns about supply eased on a continued temporary cease-fire between Israel and Hamas.
Benchmark U.S. crude oil for January delivery CLF3 -0.33% fell 19 cents, or 0.2%, to $87.19 a barrel on Globex during Asia trading hours.
The contract had risen 63 cents to settle at $87.38 a barrel on the New York Mercantile Exchange on Wednesday. Nymex floor trading was closed Thursday for Thanksgiving.
GFT technical analyst Fawad Razaqzada said Thursdayâ€™s â€ślosses were insignificantâ€ť with Middle East concerns diminishing, manufacturing activity data out of China and the U.S. Thanksgiving holiday.
â€śTraders are just waiting for the next big stimulus to push oil prices in one clear direction, but may not get that stimulus until next week,â€ť said Razaqzada.