Us Oil Prices Inch Up On Fall In Local Crude Stockpiles

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TOKYO – U.S. oil prices edged up in early Asian trade on Wednesday to move away from lows hit in the previous session, buoyed after industry data showed a decline in U.S. crude inventories.

U.S. crude marked its lowest level in nearly two months on Tuesday after three OPEC and industry sources said the U.S. government has unofficially asked Saudi Arabia and some other OPEC producers to raise oil output, although it has not requested a specific figure.

But U.S. oil had rebounded by Tuesday’s close amid expectations U.S. crude oil stockpiles likely fell for a second week last week.




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