Investing.com - Oil futures were trading within striking distance of 2016 highs on Wednesday as supply disruption concerns continued to underpin the market.
U.S. crude futures rose 24 cents or 0.5% to $48.45 a barrel at 0708 ET.
Brent crude futures were up 0.02% to $49.30 a barrel.
Goldman Sachs (NYSE:GS) remains upbeat on the near-time outlook for prices on supply issues, although investors are looking to EIA inventory data due out later today for any further reduction in stockpiles.
API data late Tuesday showed a fall in crude oil stocks of 1.14 million barrels at the end of last week.