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MTECHTIPS:-NYMEX crude up in Asia ahead of U.S. poll results, API figures ahead

Wednesday, November 9, 2016 0:33
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MTECHTIPS:-NYMEX crude up in Asia ahead of U.S. poll results, API figures ahead

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MTECHTIPS-  Crude oil prices gained in Asia on Wednesday as attention was aimed on the U.S. presidential election results due soon and further ahead to U.S. industry inventory estimates. Crude oil for December delivery on the New York Mercantile Exchange rose 0.31% to $44.95 a barrel. Market players are also looking ahead to weekly data from the U.S. on stockpiles of crude and refined products. Industry group the American Petroleum Institute is due to release its weekly report at 4:30 PM ET (20:30 GMT) later on Tuesday. Official data from the Energy Information Administration will be released Wednesday. The first U.S. exit polls, which are a projection, are expected to come out on Tuesday night at around 7:00 PM ET (00:00 GMT on Wednesday). Results will be declared state by state. If the outcome is clear, the television networks are expected to make their official call at 11:00 PM ET (04:00 GMT Wednesday). Overnight, oil prices were lower during North American hours on Tuesday, as markets were jittery before the results of the U.S. presidential election. Brent oil for January delivery on the ICE Futures Exchange in London was last quoted at 45.85 a barrel. Global financial markets were rattled last week by signs the U.S. presidential election race between Democrat candidate Hillary Clinton and Republican nominee Donald Trump was tightening

 

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