Oil up for 5th day as traders await US data
APBANGKOK -- Oil prices rose for a fifth straight trading session Wednesday despite expectations a report on weekly U.S. crude stocks will show ample inventories.
March 14, 2013, 12:00 am TWN
Benchmark oil for April delivery was up 31 cents to US$92.85 per barrel at late afternoon Bangkok time in electronic trading on the New York Mercantile Exchange. The contact rose 48 cents to finish at US$92.54 per barrel on the Nymex on Tuesday.
Brent crude, used to price many kinds of oil imported by U.S. refineries, was down 11 cents to US$109.54 a barrel on the ICE Futures exchange in London.
In other energy futures trading on the Nymex:
— Wholesale gasoline rose 2.4 cents to US$3.162 a gallon.
— Heating oil rose 0.4 cents to US$3.047 a gallon.
— Natural gas dropped 1.6 cents to US$3.629 per 1,000 cubic feet.
The Energy Information Administration's supply report will be out later Wednesday. Last week it said the nation's supply of crude was 10.3 percent above year-earlier levels. And U.S. oil production, at more than 7 million barrels a day, is at the highest level since the late 1990s.