SINGAPORE: Brent crude rose above $113 a barrel for the second consecutive day on Wednesday on expectations of lower U.S. crude stockpiles after a storm disrupted production in the Gulf of Mexico.
A Reuters poll ahead of the weekly inventory report from the U.S. Energy Information Administration showed an average forecast for a drop of 1.9 million barrels in the week to Sept. 2.
Tropical Storm Lee, which made landfall over the weekend, was also expected to have disrupted imports, adding to the impact of Hurricane Irene, which forced closure of several oil hubs on the U.S. East Coast the previous weekend.
Front-month Brent gained 47 cents to $113.36 a barrel by 0327 GMT, after settling up $2.81 on Tuesday. U.S. crude was trading at $86.44 a barrel, up 42 cents.
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