Oil holds loss near USD 41 with focus turning to US stockpiles
Oil held a loss to trade near USD 41 a barrel after analysts forecast US crude stockpiles continued to swell last week, overshadowing expectations for a dovish statement from the Federal Reserve.
BY LOW DE WEI & ANN KOH, BLOOMBERG NEWS
Futures in New York were steady in Asian trading after closing down 1.4 percent on Tuesday. US inventories grew by 450,000 barrels last week, according to a Bloomberg survey, which would be the third increase in four weeks. The American Petroleum Institute reported a 6.83-million-barrel drop in stockpiles, but said that gasoline supplies rose, according to people familiar with the data.
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