Oil Prices Edge Higher on Hopes for More China Stimulus

OIL PRICE - TOKYO. Oil prices edged higher on Thursday in thin holiday trading, driven by hopes for additional fiscal stimulus in China, the world's biggest oil importer, while an anticipated decline in U.S. crude inventories also provided support.

Brent crude futures rose 22 cents, or 0.3%, to $73.80 a barrel by 0450 GMT. U.S. West Texas Intermediate crude was at $70.34 a barrel, up 24 cents, or 0.3%, from Tuesday's pre-Christmas settlement.