HONG KONG: Oil traded near the highest close in more than two years before US government data forecast to show stockpiles extended declines for a seventh week and as unrest continued in Organization of Petroleum Exporting Countries’ (Opec) third-biggest producer.
Futures were little changed in New York near US$60 a barrel after easing 5 US cents on Tuesday. Inventories probably fell by 5 million barrels last week, according to a survey before an Energy Information Administration report last Thursday.
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