Oil continues to climb

The price of oil futures continued to climb in Asian trading on Wednesday, after it posted in the previous session, the largest increase for one day supported expectations of a drop in crude inventories in the United States for the second week in a row with a production slowdown week.

And it approached the US futures oil prices from their highest levels since the beginning of the year after data from the American Petroleum Institute showed on Tuesday night more than expected in crude stocks and petroleum products down last week.

Analysts said bank Morgan Stanley in a note "decline in oil prices is already showing signs of stimulating demand, especially in the fuel and transport."

And it increased the Organization of Petroleum Exporting Countries (OPEC) growth forecast for global oil demand in 2015 to 1.8 million barrels per day from a previous forecast of 1.7 million barrels per day.

The price went up international Brent crude contracts for delivery in June 44 cents, or about 0.66% to $ 67.30 a barrel by 0440 GMT, while US Brent crude futures rose 59 cents or 0.97% to $ 61.34 a barrel.

And recorded NYMEX gains of 2.5% and 3% of Brent contracts Tuesday backed down the dollar and political tensions in the Middle East.