Oil Rises on Expected U.S. Inventory Decline
high in the previous session, but a strong dollar has shaved off most of those gains.
U.S. West Texas Intermediate crude futures were trading at $52.42 per barrel, up 9 cents.
"Positive equities and gains in industrial metals this morning, as well as expectations that U.S. crude oil stocks will show a decline ... are ingredients helping to drive a slight gain in Brent crude," said Bjarne Schieldrop, chief commodities analyst at SEB Markets in Oslo.
Weekly U.S. statistics on oil stocks are expected to show a 1.7-million-barrel draw on Thursday, analysts polled by