Tender Procurements and Contract Opportunities Indonesia

Singapore - Oil variable (mixed) in Asian trade Wednesday ahead of a key report in U.S. oil supplies, amid simmering tensions about Iran's nuclear program, analysts said.

The main futures contract, New York, light sweet crude for January delivery fell 29 cents to 78.08 dollars per barrel.

Oil Brent North Sea crude for January delivery flat at 79.35 dollars per barrel. Both contracts have been closed higher on Tuesday.

A report from the American Petroleum Institute indicates weaker demand in the United States on Tuesday.

It said oil inventories rose 2.9 million barrels, gasoline stockpiles rose 3.4 million barrels and distillates rose 1.1 million barrels in the week ending November 27.

"Oil looks extremely flat; API report yesterday but the market is bearish EIA data waiting for confirmation," said Ben Westmore from the National Australia Bank.

Inventory report most carefully monitored darih Energy Information Agency that will come out later on Wednesday.

May indicate an increase of 800,000 barrels of crude oil stocks, a building supply 700,000 barrels of gasoline and 300,000 barrels decline in distillate stocks, according to analysts.

Simmering geopolitical tensions also affect sentiment for condemning Iran for its nuclear partners, the Russians, after a yes vote to a motion sensor on the UN atomic inspector.

Iran on Sunday announced plans to build 10 new uranium enrichment plant, piled scorn on the warning by the UN atomic inspector to build a second plant near the Shia holy city of Qom.

Twenty-five of the 35 members of the International Atomic Energy Agency (IAEA) vote against Tehran and asked him to freeze the construction of the factory.

The dollar rose slightly Wednesday in Asia as the euro fell to 1.5076 dollars from 1.5082.
(*) (ANTARA News / AFP)