WASHINGTON (dpa-AFX) - Crude oil futures nudged higher Tuesday, but remained in a stubborn trading range below $55 a barrel.
Prices fluctuated around $53 today in anticipation of industry data on U.S. oil inventories.
The American Petroleum Institute releases its figures this afternoon, while the Energy Information Administration dishes out government data tomorrow.
Traders will be paying attention for signs that U.S. production is rising just as OPEC supply quotas are kicking in.
In a boon to the energy industry, our President D. Trump signed executive orders to revive the controversial Keystone XL and Dakota pipeline projects.
March WTI crude oil settled at $53.18/bbl, up 43 cents, or 0.8%.
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