20.08.2008 - Oil up slightly in Asia ahead of inventory report
From Mysinchew.com: Oil prices rose slightly in Asia on Wednesday to near $115 a barrel as investors awaited a weekly crude inventory report for evidence an economic slowdown in the U.S. is cutting consumer demand for oil products such as gasoline. Light, sweet crude for September delivery was up 55 cents at $115.08 barrel in electronic trading on the New York Mercantile Exchange by midday in Singapore. The contract rose $1.66 overnight to settle at $114.53 a barrel. Investors are waiting for a report by the U.S. Energy Department's Energy Information Administration on U.S. oil stocks for the week ended Aug. 15 later in the day. The petroleum supply report was expected to show that gasoline inventories fell by 3 million barrels, according to the average of analysts' estimates in a survey by energy information provider Platts..... Full Article: Source
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