Oil prices rise on expectations US crude supplies fell last week

According to Yahoo!Singapore News:

SINGAPORE - Oil prices rose Wednesday on new supply concerns amid expectations that data from the U.S. will show a new decline in its oil inventories.
Crude oil supplies in the United States are expected to fall 1.2 million barrels, the sixth straight weekly decline, in a report from the U.S. Energy Department, according to the mean of forecasts by analysts in a Dow Jones Newswires survey.

The drop is expected because of a decline in imports that market watchers blame in part on fog that kept tankers outside the Houston Ship Channel last week.

The report by the department's Energy Information Administration will be released on Thursday this week, a day late due to the Christmas holiday.

Read the full article at Yahoo!Singapore News

- Oh yes, Turkey continued their strike at Northern Iraq too so what is it going to be? $95 this week?

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