Crude Inventories

Underlining tighter supply, U.S. crude inventories fell by 17 million barrels last week, the largest drop in U.S. crude inventories according to records dating back to 1982, the Energy Information Administration said on Wednesday.

Oil prices up in Asian trade

US benchmark West Texas Intermediate for October delivery gained 86 cents to USD 39.46 while Brent crude for October rose USD 1.07 to USD 44.21 in late-morning trade.

Brent slips towards $108 as supply fears ease

Brent futures slipped towards USD 108 a barrel on Tuesday as supply fears from key exporters such as Libya eased, but losses were stemmed with a forecast fall in crude inventories in the world's largest oil consumer the United States.

Gold, crude to trade higher from current levels: Barratt

Jonathan Barratt of BarrattsBulletin.com tells CNBC-TV18 that both Brent crude and gold will trade higher from current levels.

Rupee weak as oil importer $ demand weighs

The rupee eased on Wednesday after touching near-one-month-highs in the previous session as volatile domestic shares provided little support and dollar demand from oil importers further weighed on the local unit.

Oil nears $100, but 2008-style surge not in cards

Nearly three years to the day after oil prices first pierced USD 100 a barrel, they are again threatening to break triple digits on a wave of fund-led optimism, but similarities between 2008 and 2011 end there.