WTI oil trading near $93, US oil inventories fall again

WTI oil futures open Wednesday’s trading session around $93 a barrel after a US industry report showed that oil inventories slipped 81,000 barrels last week, while oil prices remain volatile, mainly on a stronger US dollar.

Latest WTI Oil Price

US Light crude oil futures for August 2011 delivery was trading at $93.40 a barrel, 06.00 GMT this morning in electronic trading on the NYMEX.

Meanwhile, the US EIA could report today that US oil supplies fell 1.83 million barrels, according to a recent survey.

WTI oil futures fell around one percent yesterday after David Fyfe, head of the IEA’s industry and markets division, said that the IEA is seeing signs that Saudi Arabia’s oil production is rising.

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WTI oil trading near $93, US oil inventories fall again