US crude ends marginally higher; demand fears weigh
Crude futures seesawed on Monday in choppy trading, hitting a four-month low on weaker-than-expected U.S. economic data and expectations of another build in U.S. oil inventories.
New orders of non-military capital goods other than aircraft, an indicator of business spending plans, fell 1.3 percent in September, the Commerce Department said.
Should the Fed rein in its monthly bond purchases, the dollar would likely strengthen, making dollar-denominated assets such as oil more expensive for holders of other currencies.
Brent crude rose 32 cents to close at $106.23 a barrel, after hitting a four-month low of $105.13 a barrel earlier in the session. U.S. oil rose by 1 cent to settle at $94.62, only marginally escaping another losing session.
U.S. oil has been pressured by inventory data from the Energy Information Administration pointing to healthy stocks at the Cushing, Oklahoma delivery point for the U.S. futures contract.
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