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Crude oil futures higher amid US stock draw, OPEC meet

From spglobal.com

Crude oil futures were higher during mid-morning trade in Asia Wednesday, garnering support from US crude stock draw last week while skepticism remained on demand and geopolitical-related concerns. At 10:10 am in Singapore (0210 GMT), ICE Brent November futures moved 29 cents/b (0.46%) higher from Tuesday's settle at $62.67/b, while the NYMEX October light sweet crude futures contract was up 35 cents/b (0.61%) at $57.75/b. US crude stocks for the week ended September 6 were down 7.3 million barrels, according to analysts' reports quoting data released by the American Petroleum Institute on Tuesday. Analysts surveyed ... (full story)

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  • Category: Fundamental Analysis