Oil climbs ahead of US weekly inventory report ...Middle East

There are signs of cyclical weakening in the global economy but OPEC+ appears to have countered it by keeping production curtailed. US producers also haven't rushed to fill the gap as they will have to contend with OPEC's plan to slowly re-introduce barrels in the year ahead.That's led to an impressive climb in oil prices, which are trading at highest since April 30.Up next is the weekly oil inventory report from the EIA at 11 am ET. It's delayed to Thursday this week because of yesterday's US holiday.The consensus is:Crude -2200KGasoline +620KDistillates +261KTuesday's API reading was surprisingly bearish, though the market has shaken it off:+2264KGasoline -1077KDistillates +538KThere have

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Oil climbs ahead of US weekly inventory report ...Middle East

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