TOKYO — Oil prices edged higher on Thursday in thin holiday trading, driven by hopes for additional fiscal stimulus in China, the world's biggest oil importer, while an anticipated decline in US crude inventories also provided support.Brent crude futures rose 11 cents, or 0.2 percent, to $73.69 a barrel by 0148 GMT . US West Texas Intermediate crude was at $70.25 a barrel, up 15 cents, or 0.2 percent, from Tuesday's pre-Christmas settlement.
'Hopes for China's stimulus measures are supporting the market,' said Satoru Yoshida, a commodity analyst at Rakuten Securities.'Expectations that fossil fuel production and demand will expand after Donald Trump takes office as US President next month are also bolstering oil prices,' he added.An anticipated decline in US crude and fuel inventories was also supporting the market.
Prices Edge Higher In Thin Holiday Trading
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