(RTTNews) - The price of crude oil was little changed Wednesday morning amid concerns over demand growth.
Light Sweet Crude Oil (WTI) futures for June delivery edged up $0.18 to $82.62 a barrel, after dipping to close at an one-month low in the previous session.
Yesterday, the API said U.S. crude inventories increased by 5.3 million barrels last week.
Meanwhile, the U.S. dollar was trading near its one year high versus the euro and ticking higher against the British pound.
The spiraling Greek debt crisis has crippled the euro of late, and with policymakers continuing to haggle over aid to Athens, crude prices may move lower over the next few days.
Traders will look to weekly inventories data from the EIA today. Analysts expect crude oil inventories build-up 1.4 billion barrels and gasoline supplies increase by 500,000 barrels.
Also, the FOMC's interest rate decision, due out later today, will be eyed to gauge the movements in the currency markets.
