Global oil prices recovered some losses in European trade Tuesday after the greenback eased while French strike also helped.
Light sweet crude for November delivery was seen trading at $83.49 a barrel at 1.00 p.m London time while Brent crude for December was seen at $83.92 a barrel, while the January contract reached $84.33 a barrel at the same time.
The ongoing strike at France s largest oil port of Fos-Lavera has blocked off 47 oil tankers, which, along with walkouts at nearly all of the country s refineries, has cut off a large share of fuel supplies to service stations.
As a result, about 1,500 petrol stations in France have run out of fuel.
The Federal Reserve said on Monday that industrial production in the US declined 0.2% September, which was interpreted as another sign that more quantitative easing (QE) is inevitable.
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Traders will be looking to this week s inventories data for indications of the strong of demand in the US.
The American Petroleum Institute (API) and the US Energy Department will release their reports today and on Wednesday respectively.
Light sweet crude for November delivery was seen trading at $83.49 a barrel at 1.00 p.m London time while Brent crude for December was seen at $83.92 a barrel, while the January contract reached $84.33 a barrel at the same time.
The ongoing strike at France s largest oil port of Fos-Lavera has blocked off 47 oil tankers, which, along with walkouts at nearly all of the country s refineries, has cut off a large share of fuel supplies to service stations.
As a result, about 1,500 petrol stations in France have run out of fuel.
The Federal Reserve said on Monday that industrial production in the US declined 0.2% September, which was interpreted as another sign that more quantitative easing (QE) is inevitable.
.
Traders will be looking to this week s inventories data for indications of the strong of demand in the US.
The American Petroleum Institute (API) and the US Energy Department will release their reports today and on Wednesday respectively.
