Oil prices were mostly flat for the day. Prices pared losses late, with one more session before the U.S. Thanksgiving holiday on Thursday, which typically yields lower trading volumes in oil. “Going into the long weekend the market would rather be a little bit long than short,” said Andrew Lipow, president of Lipow Oil Associates. Oil has fallen about 16% since late September as crude output in the U.S., the world’s top producer, held at record highs, while the market was concerned about demand growth and a potential economic slowdown. WTI traded down $.06 to close at $77.77. Brent traded up $.13 to close at $82.45.

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