Markets: Crude makes modest gains

Crude oil prices made modest gains ahead of the latest US inventories data with Nymex December West Texas Intermediate up 54 cents to $80.14 a barrel while Brent crude added 35 cents at $78.46 a barrel.

US crude stocks were forecast to have risen 1.4m barrels last week, according to a poll of analysts by Reuters, while petrol inventories were seen up 300,000 barrels and distillate inventories (including heating oil) were predicted to have fallen 1m barrels.

Nymex December RBOB unleaded gasoline traded just over a cent, or 0.6 per cent, higher at $2.0788 a gallon while Nymex December heating oil added about ½ cent, or 0.3 per cent, at $1.0788 a gallon.

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