Oil Prices Rise Ahead of Weekly Supply Report

SINGAPORE (AP) -- Oil prices rose above $67 a barrel Wednesday in Asia despite an increase in U.S. crude inventories for a third week, which suggests consumer demand remains weak.

Benchmark crude for November deliver was up 42 cents at $67.13 by midday in Singapore in electronic trading on the New York Mercantile Exchange. The contract fell 13 cents to settle at $66.71 on Tuesday.

U.S. oil inventories rose last week, the American Petroleum Institute said late Tuesday. Crude stocks increased 2.8 million barrels while analysts had expected a jump of 2.1 million barrels, according to a survey by Platts, the energy information arm of McGraw-Hill Cos.

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