West Tx Oil back up to 92.50 with EIA Data Eyed

U.S. crude hovered in a tight band early on Wednesday, a day after prices rose as investors squared positions amid signs of strength in the U.S. economy and ahead of data on government petroleum inventories.

U.S. crude for February delivery was up 2 cents at $92.61 a barrel by 0002 GMT, after finishing 79 cents higher on Tuesday.

Weekly crude stocks fell by 4.1 million barrels with a nominal build at the benchmark delivery point in Cushing, Oklahoma, data from the industry group American Petroleum Institute showed on Tuesday, against an average decrease of 600,000 barrels projected in a Reuters poll of analysts.

CNBC

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