Oil prices are rising on Wednesday morning, with gains on the WTI Nymex contract outstripping those on Brent amid expectations of higher demand and a drop in crude stocks.
The front month contract for Brent North Sea crude oil was last seen USD 0.39 firmer at USD 114/t, while the WTI contract on Nymex last traded up USD 0.60 at USD 97.50/bbl.
Analysts predicted that the official Energy Industry Information (EIA) report would show a 2.5m bbl drop in crude stocks on Thursday, the fifth consecutive decline, while the American Petroleum Institute (API) wo
Mittwoch, 6.07.2011, 08:10 Uhr
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