The Traderszone Network

Published in TZ Latest News 2 November, 2015 by The TZ Newswire Staff

U.S. crude oil edges up after drops, but market remains oversupplied

U.S. crude futures edged up early on Tuesday, but the market outlook remains bearish as supply still exceeds demand and due to worries the dollar will strengthen when the U.S. Federal Reserve eventually raises interest rates. Benchmark U.S. crude futures (CLc1) were trading at $46.27 per barrel at 7.28 p.m. ET, up 13 cents from their last settlement. In North America, U.S. crude oil stockpiles likely rose by 2.7 million barrels last week, growing for a sixth consecutive week, a Reuters poll showed.