Key Points
SINGAPORE (Reuters) -Oil prices edged higher on Thursday from two-week lows, with investors eyeing developments in the Middle East and more details on Chinas stimulus plans, as well as awaiting the release of official U.S. oil inventory data...
Both benchmarks settled down on Wednesday, closing at their lowest levels since Oct. 2 for a second day in a row...
In the U.S., crude oil and fuel stocks fell last week, market sources said, citing American Petroleum Institute figures on Wednesday, against expectations of a build-up in crude stockpiles...
Gasoline inventories fell by 5.93 million barrels, and distillate stocks fell by 2.67 million barrels, they said.. Ten analysts polled by Reuters had estimated on average that crude inventories rose by about 1.8 million barrels in the week to Oct. 11..
Also supporting oil prices, the European Central Bank is likely to lower interest rates again on Thursday, the first back-to-back rate cut in 13 years, as it shifts focus from cooling inflation in the euro zone to protecting economic growth...
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