Oil Advances as U.S. Crude Inventories Projected to Decline
Oil climbed before the release of U.S. government data that is forecast to show crude inventories declined, easing a glut.
Futures rose 1.1 percent in New York. U.S. crude stockpiles, which are near an eight-decade high, probably slid by 2 million barrels last week, according to a Bloomberg survey before Energy Information Administration data Wednesday. The industry-funded American Petroleum Institute released its report Tuesday. Disruptions have curbed output from Canada, Nigeria and Libya over the past month.