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Oil steadies above $54
06 Published in Saudi Press Agency on 06 - 05 - 2009


Oil held above $54 a barrel on
Wednesday, Reuters reported.
U.S. crude and gasoline inventories fell last week, the
American Petroleum Institute said on Tuesday, down from analysts
expectations by 1 million barrels of oil and nearly 3 million
barrels of gasoline.
A second set of inventory data, from the U.S. Energy Information Administration (EIA), comes out on
Wednesday at 1430 GMT, and could bring more support to prices if
it confirms what would be the first draw in crude stocks in nine
weeks.
U.S. light crude for June delivery was up 48 cents to $54.32
a barrel by 0913 GMT, having settled 63 cents lower on Tuesday.
London Brent crude was up 54 cents to $54.66.

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