Oil prices trading firm on US data, homing in on $90 barrel

Oil prices are trading near level on Wednesday after latest US data showed that crude oil inventories grew more than expected last week and the question remains if oil prices can pass the $90 a barrel mark soon. US Light crude oil futures for May delivery fell 37 cents to $86.47 a barrel on the NYMEX, while in London, ICE Brent crude oil futures were trading 7 cents higher at $86.22 a barrel by 1709 GMT on Wednesday. Gains in oil futures were capped by signs oil demand in the United States is at its lowest level since 2001, averaging just 756,000 million barrels per day. “People who are trading the oil futures in the speculation market who are rallying and predicting that the economy is going to increase tremendously,” said Former Associate Deputy Secretary of Energy Randa Fahmy Hudome. Oil prices trading near 2010 highs on latest US jobs data Oil prices trading steady, awaits US crude inventory data Crude oil prices hit 2010 trading high on falling US dollar Oil prices trading higher on Monday amid weaker US dollar Oil prices trading lower as US dollar makes gains Oil prices trading down two percent on stronger US dollar Oil prices above $82 as traders look to US supplies, OPEC Crude oil prices trading lower on stronger US dollar Crude oil prices trading under $81 eyes on Fed, US dollar Light oil prices end the week well above $80 trading range Brent oil price near $80 mark, OPEC oil shipments down Oil prices trading steady around $80, stronger US dollar Oil prices trading around $80 on latest US inventory data Brent oil price trading up on latest positive US GDP data Crude oil prices trading steady on US oil stocks data Oil prices trading down two percent on stronger US dollar Light oil prices trading around $74, eyes on US Dollar Brent oil price trading static, awaits US oil inventory data Oil prices & commodities trading higher, US dollar slides Oil prices trading higher amid stronger US Dollar, Europe

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Oil prices trading firm on US data, homing in on $90 barrel