New York's main contract, West Texas Intermediate (WTI) for delivery in December, rose to US$95 amid stronger US crude demand. Brent North Sea crude for December dipped to its lowest since July 2 at US$104.2, before firming slightly to US$104.37, on prospects of a deal over Iran's nuclear standoff. Iran and world powers kicked off two days of talks in Geneva over Tehran's nuclear program, amid cautious optimism that a deal might finally materialise.
An inventory report of the US Department of Energy showed an unexpectedly sharp decline in stocks of oil products last week. Also, The Department of Energy said that US crude inventories grew by 1.6 mln barrels last week, less than expectations for a rise of 1.9 mln.
08-Nov-13 
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