Oil price: WTI $51.30 +38c, Brent $56.94 +33c, Diff -$5.64 -5c, NG $2.89 n/c

Another up day for crude yesterday, Opec kicked of the monthly reports session by increasing demand forecasts for next year by an albeit modest 200/- b/d. The EIA STEO is out this morning and at first glance is uncontentious. Crude drifted late in the day and when the API inventory stats came out after the bell oil fell on the news that according to them stocks built by 3.1m barrels against a predicted draw. This morning crude is around 50 cents off last nights closing numbers.

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