Oil edges up to $42, eyeing Libya and U.S. inventories

LONDON: Oil NSE -2.16 % edged up to around $42 a barrel on Wednesday after a report said U.S. fuel inventories fell, although rising crude supply and growing numbers of coronavirus cases that raise concern of stalling demand capped gains.

The American Petroleum Institute, an industry group, said stocks of gasoline and distillate fuel dropped, while crude inventories rose. Official inventory numbers from the Energy Information Administration are due at 1430 GMT.