LONDON, Nov 15: Oil prices were mixed on Tuesday as traders focused on the supply situation on the eve of the US crude stocks report, while digesting cold weather forecasts across the northern hemisphere, dealers said. New York’s main contract, light sweet crude for delivery in December, rose 41 cents to $58.10 per barrel in pit deals, reversing losses during earlier electronic trading.
In London, the price of Brent North Sea crude for December delivery fell 37 cents to $54.36 per barrel in electronic deals.
US inventories data, due for publication on Wednesday, were expected to show a two-million-barrel increase in crude stocks and a 700,000-barrel rise in distillates inventories, according to analysts’ consensus forecast here.
Gasoline or petrol reserves were predicted to climb by 1.5 million barrels.
Distillates include crucial heating fuel, demand for which traditionally spikes during the winter months.—AFP
