• IPE Brent futures
remained supported by ongoing concerns about threats to Nigerian crude oil
production and Iran nuclear tensions ahead of US stock data out later
Wednesday, traders said. The IPE Brent May futures contract expires at the
end of trading Wednesday as well as the April IPE Gasoil futures at 1200
London time.
• The market is keeping an
eye on stock data from the US energy department's Energy Information
Administration and the American Petroleum Institute. Analysts surveyed by
Platts Tuesday are expecting to see a 1.2 million barrel build in commercial
crude stocks. Analysts were also projecting a 2 million barrel draw in US
gasoline inventories, and a 1.6-mil barrel drop in distillates.
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