• Oil prices edged up

Market news

19 November 2015

Oil prices edged up

West Texas Intermediate futures for December delivery climbed to $42.33 (+0.91%), while Brent crude advanced to $44.56 (+0.95%) amid speculation that military actions in Syria could worsen geopolitical tensions.

However oil prices are expected to remain under pressure as the global supply glut persists. The U.S. Energy Information Administration reported on Wednesday that the country's crude inventories rose by 252,000 barrels to 487.3 million barrels in the week ending November 13. Although analysts had expected a greater gain of 1.9 million barrels.

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