Oil prices rise in expectation of decline in U.S. inventories

24-Jul-13
At the end of a day of price fluctuations, crude-oil futures finished higher. Light, sweet crude for September delivery settled at US$107.2 on the Nymex, while ICE North Sea Brent crude oil for September delivery settled at US$108.4 a barrel. Oil prices rose in a volatile trading session in advance of the U.S. Energy Information Administration's report Wednesday, expected to show domestic oil stockpiles declining for a fourth consecutive week. Oil prices have moved higher in anticipation of another large inventory draw from US crude stockpiles.
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