Oil: Prices are slightly firmer - BBH

Analysts at BBH point out that oil prices are slightly firmer today while the API industry estimate of US inventories will be released later today.  

Key Quotes

“Kpler, the shipping tracker, was cited on Bloomberg, reporting that OPEC oil exports rose 388k barrels a day last month and are now 575k barrels a day above levels that prevailed last October.  Most of the increase was accounted for by Libya and Nigeria.  UAE oil exports also increased.  According to the report, Saudi exports fell by 45k barrels a day to 7.15 mln.  The September light sweet oil futures contract closed above $50 yesterday for the first time since the end of May.”