Increasing concerns over supply are helping to drive U.S. West Texas Intermediate crude oil price higher on Thursday shortly before the regular session opening. Traders are responding to a storm in the Gulf of Mexico that is threatening crude output, escalating tensions in the Middle East could choke supply distribution in the region and shrinking U.S. stockpiles. Furthermore, the market crossed to the strong side of a key technical indicator which could lead to aggressive hedge fund buying. At 08:48 GMT, September WTI crude oil futures are trading $60.81, up $0.29 or +0.48%. The main trend is up according to the ... (full story)