Oil prices slip; US treasurys edge higher

U.S. government debt prices were higher on Wednesday as investors remain undeterred from geopolitical tension as oil prices fell.

The yield on the benchmark 10-year Treasury notes, which moves inversely to price, was lower at around 2.538 percent, while the yield on the 30-year Treasury bond was also lower at 3.116 percent.

On the data front, the U.S. home resales unexpectedly rose in November, reaching their highest level in nearly 10 years.

In oil markets, Brent crude traded at around $54.50 a barrel on Wednesday, down 1.55 percent, while U.S. WTI was around $52.54 a barrel, down 1.43 percent.

U.S. commercial crude oil inventories rose by 2.3 million barrels to a total of 485.4 million barrels, the U.S. Energy Information Administration reported. Analysts expected stockpiles to fall for a fifth consecutive week, by 2.5 million barrels.

Source: CNBC