MTECHTIPS:-Crude edges higher in Asia with U.S. inventory data, OPEC

MTECHTIPS:-Crude edges higher in Asia with U.S. inventory data, OPEC monthly ahead

MTECHTIPS- Crude prices rose slightly in Asia on Wednesday with investors looking ahead to U.S. inventory data and a monthly OPEC report. On the New York Mercantile Exchange, light, sweet crude futures for delivery in February rose 0.11% to $52.54 a barrel, while March Brent crude on London’s ICE Futures Exchange gained 0.13% to $55.56 a barrel. Estimates on U.S. crude and refined product stocks by the American Petroleum Institute and official data from the U.s. Department of Energy will be released a day later this week because of a public holiday in the U.S. on Monday. OPEC releases its monthly production data this Wednesday. Overnight the U.S. dollar index fell more than 1%, but recovered in Asia up 0.22% to 100.48. A weaker dollar normally is positive for crude prices with the commodity denominated in greenbacks

WWW.MTECHTIPS.COM
07489294118-119