Global oil prices slipped a little on Thursday, but trading was quiet as markets head into the year-end holiday period and investors stay cautious.
Brent crude was trading close to $62.3 a barrel, while U.S. West Texas Intermediate hovered around $58.4 a barrel.
Analysts say the small dip reflects a rough balance between supply and demand. Right now, traders are holding back, waiting for clearer signals about the global economy and upcoming U.S. oil inventory data, which could shape price direction in the weeks ahead.
Markets are also watching closely for any new moves or statements from major oil-producing countries. Ongoing political and economic uncertainty around the world continues to play a big role in how prices move.
For now, oil prices are expected to stay relatively steady, with Brent likely moving around $60 and WTI near $58 in the near term.
