On Wednesday, after an unexpected fall in US crude inventories, many trader’s expectations were fueled of the possibility that oil futures prices will reach the key $100 level. As crude rose above $94 a barrel, futures traders and analysts said there were few significant resistance points restraining a move to the $100 level. Nymex December West Texas Intermediate rose $3.95 to $94.33 a barrel after hitting $94.74, a record, while ICE December Brent rose $3 to $90.44. The latest US inventories report showed crude stocks declined by 3.9m barrels last week, confounding the consensus market forecast of a rise of 600,000 barrels. A significant factor in driving prices higher was a sharp fall in crude stocks at Cushing, Oklahoma, the delivery point for WTI. Read the full story | 
