Why Oil Prices should open higher on Wed.

[dan_s]

Crude oil prices gained in Asia on Wednesday as investors eyed a drop in U.S. stocks.

The American Petroleum Institute's weekly inventory report showed a drop of 1.2 million barrels last week for crude, though refined products data was not available.

Read the EPG newsletter carefully on Wednesday. Global oil markets are tightening much faster than most on Wall Street realize.

[mkarpoff]

Headline in WSJ Oct 7: OPEC Says Oil Spending Likely To Fall; Cartel's Chief Predicts Global Investments Will Be Reduced, Cutting Supply and Boosting Prices. Right on Dan.