Crude oil futures traded up paring previous losses as API reported decline in crude oil and product inventories despite poor economic data from US.
The American Petroleum Institute reported on late Tuesday that crude oil stockpiles fell by 2.4 mb while gasoline inventories gained by 3.01 mb for the week.
The premium over NYMEX WTI to ICE Brent narrowed to $2 as ICE Brent reported decline on Euro Zone debt problem.
Natural gas futures traded up near $3.950 on short covering and tropical storm warning in GoM backed by October contract expiry in NYMEX.
NYMEX Crude oil has important resistance at $78, support at $74.
