West Texas Intermediate crude may rise above $110 a barrel if prices breach $105, said Kyle Cooper, director of commodities research at IAF Advisors in Houston.
West Texas Intermediate crude rose to the highest price in three weeks as a government report showed stockpiles fell at Cushing, Oklahoma, the delivery point for the futures. Brent oil rose.
Natural gas futures rose for the sixth time in seven days as forecasts for higher-than-normal temperatures indicated stronger demand for the power-plant fuel.
"While the overall supply and demand is becoming bearish, it's certainly not bullish."
- Kyle Cooper on Aug 29, 2014