November crude oil prices trended higher during the initial morning hours, supported by a favorable shift in outside market sentiment and Middle East tensions. While a credit rating downgrade in Spain weighed on crude oil prices in overnight action, that weakness seemed offset by central bank interest rate cuts from Brazil and Korea. Some traders indicated that the crude oil market garnered support on reports Turkey intercepted a Syrian cargo plane that might have had military weapons on board. November Brent crude oil prices were higher in the morning hours, supported by indications that November North Sea output could be 1% lower than levels seen in October. Expectations for this morning's EIA inventory report are for a build in the range of 1.5 million barrels.
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