Oil up 18 Cents as U.S. Crude Stockpiles Rose

Bloomberg reported that oil inched up 18 cents as U.S. crude stockpiles rose 1.8 million barrels last week.

As quoted in the market news:

Crude for April delivery was at $105.61 a barrel, up 18 cents, in electronic trading on the New York Mercantile Exchange at 11:43 a.m. Sydney time. The contract yesterday dropped $1.28 to $105.43 a barrel, the lowest close since March 6. Prices are 6.9 percent higher this year.

Click here to read the full Bloomberg report.