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Oil higher ahead of U.S. industry stockpile data

Published 18/07/2017, 13:52
Updated 18/07/2017, 13:52
© Reuters.

© Reuters.

Investing.com - Oil was higher Tuesday ahead of the latest weekly industry stockpile data.
U.S. crude was up 71 cents, or 1.54%, at $46.73 at 08:00 ET. Brent added 77 cents, or 1.59%, to $49.19.
Investors are weighing signs of stronger demand against an ongoing supply glut.
The American Petroleum Institute is due to release U.S. crude stocks data later in the session.
These will be followed Wednesday by official Energy Information Administration inventories.
The EIA is expected to report a fall of 3.74 million barrels in U.S. crude stocks in the latest week.
Key OPEC producers are due to meet with Russia later this month to discuss the current market situation.
OPEC and non-OPEC producers, including Russia, have agreed to cut output by 1.8 million barrels a day through to March.
Libya, which is exempt from the accord and has been increasing output, said it would attend the meeting in Saint Petersburg on July 22.

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