Oil Gains for First Time in Three Days Before Inventory Report

Oil rose for the first time in three days before tomorrow’s scheduled report on crude inventories from the U.S. Energy Department. Oil stockpiles in the U.S. probably rose for a fourth week as refinery operations trailed year earlier levels, a Bloomberg News survey showed. Still, crude tracked global equities higher today after economic data from the U.S. and Germany fueled speculation that demand for energy will rebound. “The hope is that we see an increase in crude demand as the economy stabilizes,” said Kaha Kiknavelidze, managing partner at Rioni Capital Partners LLP, a hedge fund specializing in emerging markets.....Complete Story