Brent oil settles near $60 a barrel

  • 2/5/2023
  • 22:57
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NEW YORK, Rabi'I 2, 1436, Dec 24, 2014, SPA -- Oil prices resumed declines after the U.S. Energy Information Administration reported a large build in U.S. crude stockpiles. Analysts had expected a seasonal draw, and the report fed worries about a supply glut, Reuters reported. Brent crude settled down $1.45 at $60.24 a barrel. U.S. crude settled down $1.28 at $55.84 a barrel. Spot gold prices were last down $1.53 to $1,173.83 an ounce. The latest U.S. data buoyed shares and pushed the S&P 500 to a record intraday high, but investors ultimately found few reasons to push major U.S. share indexes to their sixth straight day of gains. The Labor Department said U.S. weekly jobless claims fell for the fourth straight week, beating forecasts for a slight increase. A day earlier, the Commerce Department's final estimate of U.S. third-quarter economic growth indicated the quickest pace in over a decade. -- SPA 23:16 LOCAL TIME 20:16 GMT www.spa.gov.sa/w

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