Future of Crude Oil slightly higher

at 12 December 2012

Future of crude oil slightly better in Asian trading Wednesday after OPEC said it reduced oil supply in November. Focus is on the cartel's meeting to discuss production and weekly U.S. oil inventory data, both due later Wednesday.

On the New York Mercantile Exchange, light, sweet crude futures for delivery in January traded at $85.82 a barrel at 0641 GMT, up $0.03 in the Globex electronic session. January Brent crude on London's ICE Futures exchange rose $0.29 to $108.30 a barrel.

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