West Texas Intermediate crude traded near a one-week high amid forecast that U.S. stockpiles fell and as Middle East unrest curbs exports.
Futures rose as much as 1 percent. U.S. crude inventories dropped by 1.55 million barrels last week, according to a Bloomberg News survey before tomorrow’s Energy Department report. Libya’s biggest oil terminal remained shut yesterday after briefly reopening, a port official said. South Sudan is working to avoid halting fuel exports planned by Sudan on Aug. 22, according to a Foreign Ministry spokesman.
This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.