Markets

Brent rises above $98, shrinking U.S. stockpiles eyed

(Reuters) - Brent rose above $98 a barrel on Wednesday, recovering slightly from the previous session's losses, ahead of U.S. inventory data that is expected to show crude stocks shrinking for a third week in the world's largest oil consumer.

But another round of cuts by the U.S. Energy Information Administration to its world oil demand growth forecast for 2012 and 2013 limited gains for oil prices.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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