WTI trades near six-week high

West Texas Intermediate crude traded near the highest price in six weeks on forecasts that U.S. distillate stockpiles shrank as colder weather boosted demand for heating fuels.

Distillate inventories, including heating oil and diesel, probably declined by 2.13 million barrels last week, according to a survey of analysts before an Energy Information Administration report tomorrow. 

Crude inventories expanded by 2.6 million barrels in the week ended Feb. 7, according to the median estimate of analysts. Gasoline supplies are projected to have slid by 250,000 barrels.

WTI for March delivery advanced as much as 43 cents to $100.49 a barrel in electronic trading on the New York Mercantile Exchange and was at $100.31 in Europe.

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