Oil Prices Rise Ahead of US stockpiles Report

(MENAFN- Qatar News Agency) Oil prices rose in Asia on Wednesday as investors expect a US stockpiles report to show a fall, indicating firm demand in the world's top crude consumer. New York's main contract, West Texas Intermediate for delivery in November climbed 23 cents to $103.36 a barrel in afternoon trade, while Brent North Sea crude for November added 21 cents to $108.85. Analysts surveyed by the Wall Street Journal tipped reserves to have fallen by an average of 900,000 barrels in the week to September 20. The US Energy Information Administration will release the figures later Wednesday.