Crude Oil September - YNFX report (source) -September 12,2011

Crude Oil September US crude oil futures will inch up by about US cents 30 a barrel in September after declining by more than US$10 a barrel in August. Oil futures had ended up for the second straight week as production shut-down in the Gulf of Mexico after formation of Tropical Storm Lee near the Louisiana coast. Prices were also supported by a sharp decline in US gasoline inventories and on hopes that Federal Reserve would provide new stimulus to help sustain economic recovery. The Europe Brent spot continued to remain at premium over the US futures and the London Brent will inch US cents 50 a barrel on a average in September after falling US$5 in August.