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The mood, however, could change with the release of a report on crude supplies and a reading on private sector employment.
Energy Oil prices pushed higher Wednesday amid fears of tightening supplies. U.S. crude for August delivery rose 5 cents to $141.02 a barrel in electronic trading. Traders are awaiting a weekly inventory report from the U.S. Department of Energy. Analysts surveyed by energy research firm Platts expect the report to show crude oil stocks fell 1.2 million barrels last week and gasoline stocks fell 500,000 barrels. Distillate stocks, which include diesel fuel and heating oil, were forecast to have increased 2.4 million in the week ended June 27. The stockpile report comes a day after the International Energy Agency said in a report that oil demand is likely to grow, despite surging prices. Economy Investors will be watching a report on private sector employment for clues about the health of the broader job market. Payroll services firm ADP is expected to report that non-farm private employment fell 20,000 in June, after an increase of 40,000 in May. The ADP report comes ahead of the government's monthly payrolls report, which is due out on Thursday. Other markets In global trade, stocks in Japan ended the session lower for a 10th straight session. European shares rose in midday trading. |
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