Oil Up On Signs Of Improving Demand (SCO, DBO)

Oil was up in trading on Wednesday on signs of an improving demand and a weaker dollar. On the New York Mercantile Exchange, crude oil for delivery in May was up 0.7% to $82.93 a barrel. On the ICE Futures Exchange in London, Brent crude for delivery in May was up $0.43 to $81.71 a barrel. Earlier, on Tuesday, the ProShares UltraShort DJ-UBS Crude Oil (ETF) (NYSE: SCO) was up 0.72% to $12.60 in after-hours trading, while the PowerShares DB Oil Fund (ETF) (NYSE: DBO) closed 0.11% higher at $27.86. Later, on Wednesday, the Energy Department will release its weekly inventory report.