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Energy Currents: WTI, Brent Crude Higher On Expectations of Rising U.S. Demand

By: MT Newswires
Posted: 8/17/2011 8:20:00 AM
Referenced Stocks: ICE;NY

Crude oil futures are higher this morning as worries over growth recede and traders reportedly believe shrinking fuel stockpiles point to rising demand in the United States.

Energy Department report today that may say crude and gasoline stockpiles fell last week. The industry-funded American Petroleum Institute said yesterday gasoline supplies slid the most in almost five months. Inventories typically shrink in summer amid the May-to-September peak driving season.

At 9:15 a.m.

SEP WTI Crude ( NY ) $88.50 +1.

SEP Brent Crude ( ICE ) $110.78 +1.35

SEP Natural Gas ( NY ) $3.935 +0.003