Oil edges up on North Sea pipeline outage, lower US crude supply
Brent crude prices steadied on Wednesday while WTI futures edged higher, supported by expectations of a fall in U.S. inventories and the continued outage of the North Sea Forties pipeline system. “The API is the reason why the energy complex is slightly up this morning,” said Tamas Varga, analyst with PVM Oil Associates. The American Petroleum Institute said on Tuesday that U.S. crude inventories fell by 5.2 million barrels in the week to Dec. 15 to 438.7 million. Click Read More below for additional information.