Crude oil prices crawled higher Wedneday morning after big losses in the previous few sessions.
U.S. WTI crude oil for December was up 30 cents at $43.50. having dropped to the lowest since August.
Bargain hunters were active even though the American Petroleum Institute (API) said crude oil inventories hit record levels.
However, weekly crude stocks at Cushing fell 748,000 barrels.
The U.S. Energy Information Administration (EIA) data is due later this morning.
Focus then shifts to the Federal Reserve, which is set to release its latest monetary policy statement at 2 pm ET.
The material has been provided by InstaForex Company – www.instaforex.com