Oil prices up ahead of US supply report

Oil edged higher in Asia today ahead of a key report expected to show further build-up in US crude inventories, further hitting prices in an already oversupplied market, analysts said.



US benchmark West Texas Intermediate (WTI) for April delivery rose one cent to USD 49.29 while Brent crude for April gained 24 cents to USD 58.90 in late-morning trade.



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Posted in: Indian Market Tips