Oil prices edged higher Wednesday as traders kept a close eye on Hurricane Wilma’s path and awaited the release of a weekly petroleum report expected to show that crude stocks rose.
Light sweet crude for November delivery on the New York Mercantile Exchange rose 12 cents to $63.32 a barrel by afternoon in Europe after trading lower earlier. Heating oil rose marginally to $1.9390 a gallon, while gasoline slipped by nearly a cent to $1.7280 a gallon. Natural gas rose by more than 9 cents to $13.519 per 1,000 cubic feet. Brent crude futures for December delivery rose 12 cents to $59.40 a barrel on London’s International Petroleum Exchange.
