Oil prices near $42

Singapore
Oil prices traded near $42 in Asia Friday as US markets took a break for Thanksgiving and Russia ruled out a military strike against Turkey for shooting down one of its warplanes.
US benchmark West Texas Intermediate for delivery in January was 55 cents lower at $42.29 and Brent crude was down 15 cents at $45.31.
Before US markets went on holiday, the US Department of Energy released data showing the country´s commercial crude supplies in the week to November 20 rose at a slower pace, giving a bit of relief from a supply glut.
Reports that Russia is not taking military action against Turkey for the shooting down of one of its fighter jets on the Syrian border also eased fears that the tense situation in the region could escalate and disrupt oil supplies.
Moscow on Thursday said retaliatory measures will focus on using its leverage to tighten the screws on Turkey´s economy, including halting joint economic projects, restricting financial and trade transactions and changing customs duties.