Oil prices flat

OIL prices traded flat around the key 60-dollar mark in Asia on Thursday ahead of a weekly US report on energy inventories.

At 2:05 pm (0605 GMT) New York’s main oil futures contract, light sweet crude for delivery in April, was down eight cents to US$59,99 a barrel after jumping US$1,22 to close at US$60,07 a barrel in late US trades. Brent North Sea crude for April delivery slipped nine cents to US$59,26 a barrel.”Looks like we finally broke through 60 dollars and we might be out of the weak season and going into a pre-season gasoline rally.The market may correct downwards by a bit, but the medium-term trend is on the upside,” said Mitsubishi Corp energy risk manager Tony Nunan in Tokyo.Brent North Sea crude for April delivery slipped nine cents to US$59,26 a barrel.”Looks like we finally broke through 60 dollars and we might be out of the weak season and going into a pre-season gasoline rally.The market may correct downwards by a bit, but the medium-term trend is on the upside,” said Mitsubishi Corp energy risk manager Tony Nunan in Tokyo.