Markets > Commodities

Oil prices climb as U.S. inventories expected to fall

NEW YORK
2017-06-28 04:27

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Oil prices ended slightly higher on Tuesday as traders anticipated a drop in U.S. crude inventories.

With no major data came out on Tuesday, investors were awaiting the closely-watched weekly data on U.S. crude stockpiles due on Wednesday. Crude stocks are expected to fall by 3.25 million barrels in the week through June 23, according to a survey of analysts by S&P Global Platts.

The West Texas Intermediate for August Delivery added 0.86 dollars to settle at 44.24 dollars a barrel on the New York Mercantile Exchange, while Brent crude for August delivery gained 0.82 dollars to close at 46.65 dollars a barrel on the London ICE Futures Exchange.

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