New York's main contract West Texas Intermediate (WTI) for December delivery rose to US$93.7 a barrel, while Brent North Sea crude for December settled at US$105.7, Despite the rise, oil prices continue to face pressure from US demand fears and speculation over the future of the Federal Reserve's stimulus program.
Energy Information Administration report is expected to show a further supply surge in the US internal market. Inventories in the United States have risen for the past six weeks, to about 28 million barrels, raising concerns about oversupply in the world's largest economy and top crude consumer. Market players await release of US Q3 gross domestic product (GDP) advanced estimates. The result will give investors a better idea about the Fed's plans for its stimulus program.
07-Nov-13 
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