October crude oil prices traded higher throughout the overnight and initial morning hours. Early support for the crude oil market seemed to come from private inventory data that showed a larger than expected draw in crude stocks last week. Expectations for this morning's EIA inventory data are for crude stocks to have fallen around 5.5 million barrels last week in response to Hurricane Isaac. The outside market tone appeared to take a positive move overnight on mounting expectations that the ECB will announce another round of bond purchases at today's meeting.

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