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MTECHTIPS:-CRUDEOIL
Brent crude held steady near $109 a barrel on Wednesday after the huge storm Sandy whiplashed the U.S. East Coast, reducing fuel demand even as refineries in the region gradually resumed operation.The region's biggest refinery, in Philadelphia, and several others were ramping up operations on Tuesday after escaping damage. Crude inventories increased by 2.1 million barrels in the week to Oct. 26, the data showed, higher than analysts' expectation of a 1.5 million barrels rise. Outlook: Crude is expected to expected to trade with positive bias on account of Geo political tensions in middle east and later on take cues from Economic data.
Brent crude held steady near $109 a barrel on Wednesday after the huge storm Sandy whiplashed the U.S. East Coast, reducing fuel demand even as refineries in the region gradually resumed operation.The region's biggest refinery, in Philadelphia, and several others were ramping up operations on Tuesday after escaping damage. Crude inventories increased by 2.1 million barrels in the week to Oct. 26, the data showed, higher than analysts' expectation of a 1.5 million barrels rise. Outlook: Crude is expected to expected to trade with positive bias on account of Geo political tensions in middle east and later on take cues from Economic data.
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