World oil prices eased near $82 a barrel in Asian trade Wednesday mainly after reports of increase in US crude supplies.
Light sweet crude for December delivery was seen trading at $82.09 a barrel at 12.30 p.m Singapore time while Brent crude was at $83.34 a barrel in London.
In other Nymex trading in November contracts, heating oil fell 1.25 cents to $2.237 a gallon and gasoline dropped 0.14 cent to $2.08 a gallon. Natural gas slid 4.4 cents to $3.31 per 1,000 cubic feet.
Analysts also attributed a strong dollar for black gold s decline in four day s as the futures dropped as much as 0.6 percent as the dollar climbed against most majors.
The dollar's strengthening against key currencies pulled down an earlier sharper rise in prices, they added.
In recent weeks the greenback's steady decline had pushed investors to buy dollar-driven commodities.
The dollar edged up on Wednesday on doubts the Fed will buy assets as aggressively as expected to pump more money into the system, while commodity stocks led Asian stocks lower
The link between the dollar and the price of oil remained near its strongest in 14 months amid speculation that the Federal Reserve will inject money into the U.S. economy
The American Petroleum Institute said yesterday stockpiles surged 6.43 million barrels.The Energy Department's Energy Information Administration reports its weekly supply data later Wednesday.
On Tuesday, Light sweet crude for delivery in December, rose three cents to close at $82.55 a barrel while Brent crude for December delivery settled 12 cents higher at $83.66
Light sweet crude for December delivery was seen trading at $82.09 a barrel at 12.30 p.m Singapore time while Brent crude was at $83.34 a barrel in London.
In other Nymex trading in November contracts, heating oil fell 1.25 cents to $2.237 a gallon and gasoline dropped 0.14 cent to $2.08 a gallon. Natural gas slid 4.4 cents to $3.31 per 1,000 cubic feet.
Analysts also attributed a strong dollar for black gold s decline in four day s as the futures dropped as much as 0.6 percent as the dollar climbed against most majors.
The dollar's strengthening against key currencies pulled down an earlier sharper rise in prices, they added.
In recent weeks the greenback's steady decline had pushed investors to buy dollar-driven commodities.
The dollar edged up on Wednesday on doubts the Fed will buy assets as aggressively as expected to pump more money into the system, while commodity stocks led Asian stocks lower
The link between the dollar and the price of oil remained near its strongest in 14 months amid speculation that the Federal Reserve will inject money into the U.S. economy
The American Petroleum Institute said yesterday stockpiles surged 6.43 million barrels.The Energy Department's Energy Information Administration reports its weekly supply data later Wednesday.
On Tuesday, Light sweet crude for delivery in December, rose three cents to close at $82.55 a barrel while Brent crude for December delivery settled 12 cents higher at $83.66
