MW: Oil prices edge higher ahead of U.S. supply data
By Kate Gibson
NEW YORK (MarketWatch) -- Oil prices on Thursday rose to nearly $75 a barrel ahead of government data that could show a a smaller rise in U.S. supply than previously thought. The change in expectations comes after the American Petroleum Institute late Wednesday reported a larger-than-anticipated drop in U.S. inventories last week. Benchmark oil futures for October delivery were up 20 cents at $74.87 a barrel in electronic trading on the New York Mercantile Exchange. The contract on Wednesday settled at $74.67, up 58 cents.
