Crude is trading with a slight increase, while remaining within a relatively tight range, after US Department of Energy data showed a reduction of oil reserves in the country. Commercial crude oil inventories for the week ended 21 October fell by 0.6 million barrels to 468.2 million barrels. Analysts, on the other hand, expected a growth rate of 1,699 million barrels up to 470.4 million barrels.

This morning the December futures for WTI crude oil on the NYMEX were up $ 0.15 at $ 49.33 a barrel. December futures for Brent oil rose by about $ 0.20.