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Crude Oil Stable Near $48 Ahead Of Inventories




21.03.17 13:19
dpa-AFX


WASHINGTON (dpa-AFX) - Crude oil futures rose Tuesday morning ahead of closely-watched U.

S. inventories data.


The American Petroleum Institute (API) report is due this afternoon at 4:30 pm ET, followed by the Energy Information Administration figures tomorrow morning.


Robust U.S. production saw inventories skyrocket to record highs this winter, but data revealed a surprise drop in stockpiles last week.


WTI light sweet crude oil was up 30 cents at $48.52 a barrel, edging up from near its lowest in 2017.


Reports say OPEC is determined to re-balance oil markets by extending its supply quota plan beyond the first half of the year.


New York Federal Reserve Bank President William Dudley will speak at two events today.


Kansas City Federal Reserve Bank President Esther George will speak on the U.S. economy in Washington, D.C., followed by Q&A at 12.00 pm ET.


Copyright RTT News/dpa-AFX



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