Oil rises as US stockpiles may drop

Oil prices rose on Tuesday on expectations that inventories in the U.S., the world’s biggest crude consumer, are expected to fall and on signs that demand in emerging markets remains healthy.

Crude futures likely received a boost from gains in Asian equity markets as regional central banks are expected to keep their interest rates steady.

Brent crude LCOc1 rose 57 cents, or 0.68%, to $84.75 a barrel at 0425 GMT, while U.S. West Texas Intermediate CLc1 gained 60 cents, or 0.75%, to $80.34.

Union Jack Oil plc (LON:UJO) is an onshore oil and gas exploration company with a focus on drilling, development and investment opportunities in the United Kingdom hydrocarbon sector.

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