Oil rises in Asia following inventory data

Oil futures traded higher during Thursday’s Asian session following a round of mixed data points out of the U.S. on Wednesday. 

On the New York Mercantile Exchange, light, sweet crude futures for March delivery added 0.18% to USD97.18 per barrel in Asian trading Thursday. 

Crude finished slightly higher in the U.S. after sliding earlier in the session after the U.S. Energy Information Administration pared its demand outlook by 90,000 barrels per day for 2013. Additionally, EIA said that U.S. crude oil inventories rose by 560,000 barrels in the week ended Feb. 8, well below market calls for a gain of 2.35 million barrels. Total U.S. crude oil inventories stood at 372.2 million barrels as of last week. Continue Reading ...