Commodities: Crude futures rise on hopes of API data showing draw in US stores

Crude-oil futures are riding higher Tuesday as the market looks to industry data out later to show a draw in US stockpiles.

At 15:31 BST, Nymex-priced West Texas Intermediate crude was up 1.29% to $43.94 a barrel, with Intercontinental Exchange-traded Brent up 1.42% to $46.48 a barrel.

Traders were expecting the industry's American Petroleum Institute (API) figures to record a fall in US stores last week.

This would be followed on Wednesday by the government's Energy Information Administration (EIA), whose weekly tally was also expected to reveal a draw.

Crude remains in the midst of a supply overhang, with the market doubting the sufficiency of Opec's extended production curbs and also worried about ramping up US shale output.

Monex Europe noted WTI crude held above $43 a barrel and said that on Tuesday "anticipation built for what forecasters expect will be a decline in stockpiles this week".

Turning to metals, on Comex, gold rose 0.3% to $1250.2 an ounce. Silver added 0.17% to $16.66 an ounce. Copper was 0.72% ahead at 265.75 cents a pound.

On London Metals Exchange, three-month industrial metals were mixed, again. Zinc rose 0.55% and tin rose 0.34%.

Aluminum shed 0.16% and copper fell 0.1%.