What's Moving the Oil Markets?

What's Moving the Oil Markets?

•-ICE Brent futures in London rose over half a dollar on Wednesday in anticipation of a draw in crude stocks in the US later in the day and a slight fall in gasoline stocks, brokers said.

•-In Nigeria, the state security service arrested 15 persons suspected of terrorizing the Niger Delta region following President Olusegun Obasanjo's directive to hunt down militants responsible for a spate of kidnappings.

•- The hurricane premium on the crude complex has been neutered as it drifts away from the oil producing areas off the coast of Louisiana and Texas.

•- US oil inventory data due to be released Wednesday by the US Energy Information Administration and American Petroleum Institute are expected to show a 1.3 million barrel barrel draw in commercial crude stocks.

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