Singapore, 2 September (Argus) — Nymex oil futures rose in today's after-hours session as a large decline in US crude stocks fuelled expectations of rising oil demand.
At 08:30 GMT, the Nymex front-month October WTI crude contract was at $68.20/bl, rising by 15¢/bl from its close yesterday.
Ice October Brent crude was 9¢/bl higher at $67.82/bl.
Nymex October heating oil rose by 0.84¢/USG to $1.7673/USG, while Nymex October RBOB gasoline rose by 0.87¢/USG to $1.7909/USG.
Nymex WTI closed $1.91/bl lower yesterday on concerns about a slow global economic recovery. But prices pared losses after the American Petroleum Institute reported a drop of 3.2mn bl in US crude inventories, a larger fall than the market had expected. The US EIA will release its oil stocks data later today.
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