Crude oil up a few notches prior to release of US inventory data

23-Apr-09
New York's main futures contract, light sweet crude for June, rose to US$48.8 while Brent North Sea crude for delivery in June rose to US$50.10. Crude oil prices have moved up as market players look forward to latest weekly inventory data, published by the US Department of Energy every Wednesday at 1430 GMT. Market players are keen to find out if US crude oil reserves increase for a sixth consecutive week. Currently, inventories are at their highest level since September 1990.
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