Oil prices climb ahead of U.S. inventories data

Source: Xinhua| 2020-10-15 04:45:41|Editor: huaxia

NEW YORK, Oct. 14 (Xinhua) -- Oil prices moved higher on Wednesday as traders awaited U.S. crude stockpiles data.

The West Texas Intermediate for November delivery climbed 84 cents to settle at 41.04 U.S. dollars a barrel on the New York Mercantile Exchange, while Brent crude for December delivery increased 87 cents to 43.32 dollars a barrel on the London ICE Futures Exchange.

The U.S. Energy Information Administration (EIA) is scheduled to release the nation's weekly crude stockpiles data on Thursday. U.S. petroleum supplies data have been delayed by a day this week due to the holiday on Monday.

Analysts polled by S&P Global Platts expected the EIA to report a fall of 2.3 million barrels in U.S. crude inventories for the week ending Oct. 9.

On Tuesday, both crude benchmarks advanced nearly 2 percent, supported by robust trade data from China. Enditem