Oil rises in early Asian trade amid Middle East tensions that could lead to supply disruptions. The U.S. is moving to reduce its presence in parts of Middle East to essential personnel, State Department and Pentagon said Wednesday, as tensions in the region increase.
Also, data released overnight by U.S. EIA showed commercial crude-oil stocks excluding Strategic Petroleum Reserve fell by 3.6 million barrels in the week ended June 6.
Analysts surveyed by The Wall Street Journal had forecast a 1.6 million-barrel decline in crude stockpiles. Front-month WTI crude oil futures are 0.4% higher at $68.44/bbl; front-month Brent crude oil futures are 0.4% higher at $70.02/bbl.
Source : Dow Jones Newswires
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