REUTERS
Oil prices were on the up during global trading on Wednesday against the backdrop of a weaker dollar and anticipation of statistical data on oil inventories from the United States, Reuters has reported.
June futures for North Sea Brent blend inched up by 0.57% to $67.24 per barrel, while June futures for WTI crude oil were up by 0.81% to $61.24 per barrel.
Later on Wednesday, the US Energy Information Administration will be publishing a weekly report on oil inventories in the country. Analysts predict oil inventories have shrunk by 250,000 barrels for the week ending May 8.
Particular attention will be paid to statistics on oil production in the United States. According to the US Department of Energy, crude oil production for the week ending May 1 fell by 4,000 barrels per day amounting to 9.369 million barrels per day.
Pressure in the market is exerted by a weakening dollar - its exchange rate in the basket of six currencies of countries that are major U.S. trading partners fell by 0.12% - to 94.45 points.