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 SINGAPORE (AP) - Oil prices hovered around the psychologically important $60-a-barrel mark in Asian trading Thursday ahead of the release of the U.S. government's fuel stocks data later in the day.
Light, sweet crude for April delivery traded down 1 cent at $60.06 a barrel in electronic trading on the New York Mercantile Exchange midday in Singapore.
The upside target may be as high as $61 a barrel, said Ken Hasegawa of Tokyo brokerage Himawari CX, adding that market action in coming days may see prices move into the $57- to $62-a-barrel range.
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