Global crude oil prices climb as a bigger-than-expected draw in US gasoline & distillate stocks prompted buying
Global crude oil prices climbed today, as a bigger-than-expected draw in US gasoline and distillate stocks prompted buying. The uptick was also supported by expectations that soaring natural gas prices as winter approaches will drive a switch to oil to meet heating demand. So, Brent crude oil futures gained 67 cents, to trade at 83.85 dollars a barrel. US crude futures advanced 62 cents, to 81.06 dollars a barrel. On the Multi Commodity Exchange, gold futures for December delivery fell 109 rupees, today, to trade at 47,808 rupees per ten grams. Silver futures for December dropped 337 rupees, to 62,577 rupees per kilo.