Oil Dips in Thin Trading as Traders Focus on 2025 Outlook

(Bloomberg) -- Oil slipped in quiet end-of-year trading, as the market focused on the outlook for 2025 while monitoring Middle East developments.Most Read from BloombergMigrant Crisis Pushed US Homelessness to Record High in 2024West Texas Intermediate traded near $70 a barrel after rising 1.6% last week, and Brent was below $74. There are widespread expectations that the market will be oversupplied next year, which is likely to make it harder for OPEC and its allies to revive idled production.O