Crude Flat Above $86

(RTTNews) - The price of crude oil was little changed Friday morning amid lack of fresh triggers.

Light Sweet Crude Oil (WTI) futures for March delivery edged up $0.10 to $86.46 a barrel. Meanwhile, Light Sweet Crude Oil (WTI) futures for April were adding $0.36 to $89.20 a barrel.

Yesterday, oil gained nearly 2 percent after official data Wednesday showed inventories rose far less than expected last week.

Oil prices may move higher amid escalating tensions in Bahrain and Libya that could fuel concern over supply disruptions, analysts opined.

This morning, the U.S. dollar was paring its recent losses versus the euro and ticking higher against the Swiss Franc, while trading flat versus the yen. The buck moved down to a 3-week low versus sterling.

The British pound was trading broadly higher after UK retail sales in January rose much more than analysts had expected. UK retail sales including automotive fuel grew 1.9 percent month-on-month in January, beating economists' expectations for a 0.5 percent rise.

Traders will look to the movements in equity and currency markets to get clues for trading, amid a light economic calendar.

(Source: http://www.rttnews.com/ArticleView.aspx?Id=1556615)