Oil futures remained mostly unchanged in the global markets thus sustaining their prices that are at a five-month high. Oil prices changed a little in Asia, briefly touching a five-month high overnight.
The market is waiting for the official U.S. Energy Information Administration data, which is released on a weekly basis; it will be released 1430 GMT today.
Light, sweet crude futures for delivery in November traded at $82.84 a barrel at 0649 GMT on the New York Mercantile Exchange, seeing an up tick of 2 cents in the Globex electronic session. Prices of the November Brent crude on London's ICE Futures exchange surged 3 cents to $84.97 a barrel.
Oil prices have seen a constant rise in recent weeks as the dollar has weakened and global economic outlook remains murkier. The boost in oil prices is upwards of $10 a barrel over the fortnight.
According to a Dow Jones Newswires survey, there is an expected increase in oil stocks by up to 300,000 barrels in the week ended Oct. 1 with a dip in oil production at the refiners by up to 0.4 percentage points. There is a decline of up to 300,000 barrels in the Gasoline inventories and the production of distillate stocks dropped to 700,000 barrels, according to the survey.
Nymex reformulated gasoline blendstock for November saw an increase of 62 points to 213.17 cents a gallon and the November heating oil traded at 230.49 cents, which is 23 points higher than its previous price.
ICE gasoil for October was traded at $727.75 a metric ton, which is $4.00 higher than its Tuesday settlement.
