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Oil prices rise before US inventory data
LONDON (AFP) - - Oil prices rose slightly on Thursday as markets awaited the latest weekly snapshot of US energy inventories.
New York's main contract, light sweet crude for delivery in October, climbed 38 cents to 109.73 dollars a barrel.
Brent North Sea crude for October gained 19 cents to 108.25 dollars.
Prices rose even though most US crude oil production in the Gulf of Mexico remained off-line after refinery outages caused by Hurricane Gustav.
The hurricane's limited damage to US energy facilities had earlier provided a huge relief and allowed prices to fall sharply, traders said.
Traders were awaiting the release of the US government's weekly energy inventory report which will also provide clues on the state of US crude demand.
The report was due a day later than usual because of Monday's Labour Day holiday in the United States.
The oil market was looking ahead to Tuesday's meeting of the Organization of the Petroleum Exporting Countries amid speculation OPEC could cut output if prices fall towards 100 dollars.
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