U.S. crude oil inventories fell by more than expected last week and product stockpiles were mixed as refineries raised their capacity use, according to EIA data.
Major indexes, which had barely budged Thursday, remained on track to finish little changed for the weekβand are closing in on strong full-year gains.
Moves in currencies, especially in the euro and sterling against the dollar, suggest investors are tending to sell the dollar at year-end, Jefferies said.
Oil gained on market optimism around a recovery in demand for crude from China, with government support measures expected to crystallize over 2025, XS.com said.
Gold futures fell and were on track for weekly losses amid thin holiday trading. The precious metal has slid against stronger U.S. Treasury yields, with the market looking ahead to 2025 for fresh catalysts.