LONDON, June 4 (AFP): Oil prices edged higher on Wednesday as investors awaited the latest US supply report for clues about demand in the world's biggest crude consumer.
The US benchmark, West Texas Intermediate for delivery in July, gained 63 cents to $103.29 a barrel.
Brent North Sea crude for July climbed 57 cents compared with Tuesday's closing level to stand at $109.29 a barrel in midday deals.
The official weekly US stockpiles report Wednesday is expected to show inventories dipped 100,000 barrels on average in the week to May 30, according to a Wall Street Journal survey of 13 analysts.
A decline in US inventories usually indicates healthy demand in the world's biggest economy, which could in turn support global crude prices.
Ahead of the data, investors were monitoring the situation in Ukraine, where government forces and pro-Russian insurgents have been embroiled in skirmishes for weeks in the east, although fighting has so far not expanded into a full-fledged civil war.
Oil prices rise ahead of US supply report
FE Team | Published: June 05, 2014 00:00:00 | Updated: November 30, 2026 06:01:00
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