On Thursday U.S. oil futures edged lower amid concerns weekly supply data to be released later in the day will show U.S. crude inventories rose faster than expected last week.
Nymex oil shed 44 cents, or 0.93%, to trade at $46.21 a barrel during European morning hours.
Yesterday WTI prices dipped 2 cents, or 0.04%.
The U.S. Energy Information Administration is expected to publish its weekly report on oil supplies at 11:00AM Eastern time Thursday. The report comes out one day later than usual because of Monday's Columbus Day holiday in the U.S.
The data is expected to show that crude stockpiles rose by 2.9 million barrels last week, while gasoline stockpiles probably declined by 1.7 million barrels.
After markets' closure on Wednesday, the American Petroleum Institute reported that U.S. crude inventories rose by enormous 9.3 million barrels in the week ended October 9.
Meanwhile, Brent oil for November delivery on the ICE Futures Exchange lost 7 cents, or 0.14%, to trade at $49.62 a barrel.
On Wednesday, Brent futures shed 7 cents, or 0.18%.
Credit: mql5.com
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