Investing.com - Crude oil futures pushed lower on Thursday, after the release of mixed U.S. data fuelled fresh uncertainty over whether or not the Federal Reserve will soon begin scaling back its stimulus program.
On the New York Mercantile Exchange, light sweet crude futures for delivery in September traded at USD104.39 a barrel during European morning trade, down 0.94%.
The September contract settled down 1.72%, at USD105.39 a barrel on Wednesday.
The Labor Department said the number of individuals filing for initial jobless benefits last week increased by 7,000 to a seasonally adjusted 343,000, compared to expectations for an increase of 6,000 to 340,000.
Separately, the Commerce Department said orders for long lasting manufactured goods rose by a seasonally adjusted 4.2% in June, compared to expectations for an increase of 1.3%.
Durable goods for May were revised to a 5.2% gain from a previously reported 3.7% increase.
Core durable goods orders, which exclude volatile transportation items, were flat in June, compared to expectations for a 0.5% increase.
The reports came after official data on Wednesday showing that U.S. new home sales jumped to a five-year high in June boosted expectations that the Fed will start to taper its bond buying program later this year.
The Fed’s stimulus program is viewed by many investors as a key driver in boosting the price of commodities as it tends to depress the value of the dollar.
The U.S. is the world’s biggest oil-consuming country, responsible for almost 22% of global oil demand.
Elsewhere, on the ICE Futures Exchange, Brent oil futures for September delivery slid 0.33% to trade at USD106.84 a barrel, with the spread between the Brent and crude contracts standing at USD2.45 a barrel.
On the New York Mercantile Exchange, light sweet crude futures for delivery in September traded at USD104.39 a barrel during European morning trade, down 0.94%.
The September contract settled down 1.72%, at USD105.39 a barrel on Wednesday.
The Labor Department said the number of individuals filing for initial jobless benefits last week increased by 7,000 to a seasonally adjusted 343,000, compared to expectations for an increase of 6,000 to 340,000.
Separately, the Commerce Department said orders for long lasting manufactured goods rose by a seasonally adjusted 4.2% in June, compared to expectations for an increase of 1.3%.
Durable goods for May were revised to a 5.2% gain from a previously reported 3.7% increase.
Core durable goods orders, which exclude volatile transportation items, were flat in June, compared to expectations for a 0.5% increase.
The reports came after official data on Wednesday showing that U.S. new home sales jumped to a five-year high in June boosted expectations that the Fed will start to taper its bond buying program later this year.
The Fed’s stimulus program is viewed by many investors as a key driver in boosting the price of commodities as it tends to depress the value of the dollar.
The U.S. is the world’s biggest oil-consuming country, responsible for almost 22% of global oil demand.
Elsewhere, on the ICE Futures Exchange, Brent oil futures for September delivery slid 0.33% to trade at USD106.84 a barrel, with the spread between the Brent and crude contracts standing at USD2.45 a barrel.