Crude edges lower on stronger dollar, losses seen limited

Posted on at - An upbeat U.S. retail sales report strengthened the dollar and weakened oil on Thursday, though losses were seen as limited as the report also fueled hopes for more sustained economic recovery, which should boost demand for fuel and energy.

A stronger greenback tends to make oil a less attractive commodity on dollar-denominated exchanges, especially in the eyes of investors holding other currencies.

In the New York Mercantile Exchange, West Texas Intermediate crude oil futures for delivery in January traded down 0.07% at $60.90 a barrel during U.S. trading, up from a session low of $60.10 a barrel and off a high of $61.67 a barrel.

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