(RTTNews) - The price of crude oil was little changed Wednesday morning as traders await cues from the official weekly inventories data from the EIA, due out later during the session. Earlier, Moody's Investors Service trimmed Japan's credit rating by one notch, citing weak prospects for economic growth and huge public debt burden. Light Sweet Crude Oil (WTI) futures for October delivery, edged down $0.19 to $85.25 a barrel. Yesterday, oil ended higher supported by better than expected manufacturing data from China and Europe, and stronger equities markets. Yesterday, Shell said it would shut in its Nigerian Bonny Light crude exports to repair a damaged pipeline, which could impact Nigeria's total exports in September and October this year. Tuesday after trading hours the API said U.S. crude oil inventories dipped by 3.30 million barrels, while gasoline stocks moved up 6.37 million barrels in the week ended August 19. Meanwhile, the U.S. dollar continued to drift lower versus the euro, sterling and the yen, while paring its previous session's gains against the Swiss franc. In economic news, German business sentiment fell more than expected in August, according to a monthly survey from the Ifo institute. The business climate index fell to 108.7 in August from 112.9 in July. Economists were expecting it to fall to 111. Traders will look to the durable goods order report from the U.S. Commerce Department, due out at 8.30 a.m ET. Economists expect a 2 percent increase in the orders following a 1.9 percent drop in June. Today during trading hours, the EIA will release its U.S. crude oil inventories report for the week ended August 19. Analysts expect crude oil inventories to move up by 1.75 million barrels last week.

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