Oil closes higher as tight market awaits snapshot on shale boom

Oil edged higher as investors weighed tightening global supplies against expectations for another boost in US crude inventories.[LONDON] Oil edged higher as investors weighed tightening global supplies against expectations for another boost in US crude inventories.

‘‘The market has taken a little bit of a breather,'' said Kyle Cooper, a consultant at Ion Energy Group in Houston. ‘‘Inventory trends have overall been very bullish. So unless the overall economies collapse, and given the risk for lower production out of Venezuela and still lackluster supply outside of the US, I think it's an uptrend.''

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