MELBOURNE (Apr 7): Oil traded near the highest level in more than six weeks before U.S. data forecast to show the pace of crude-stockpile growth in the world’s biggest oil consumer.

Futures were little changed in New York after rising 6.1 percent, the most in two months, on Monday as Saudi Arabia increased prices for oil shipments to Asia. U.S. crude inventories probably expanded by 3 million barrels last week, according to a Bloomberg News survey before an Energy Information Administration report on Wednesday. That would be the smallest gain in 2015.

Oil is still down 2.9 percent this year amid a global glut that’s been exacerbated by surging U.S. crude supplies, which have climbed the past 12 weeks to a record. The nation’s output fell for the first time since January last month as drillers idle rigs to the lowest level in four years.

West Texas Intermediate for May delivery was at $51.72 a barrel in electronic trading on the New York Mercantile Exchange, down 42 cents, at 10:36 a.m. Sydney time. The contract gained $3 to $52.14 on Monday, the highest close since Feb. 18. The volume of all futures traded was about 70 percent below the 100-day average.

Brent for May settlement was 49 cents, or 0.8 percent, lower at $57.63 a barrel on the London-based ICE Futures Europe exchange. It gained $3.17, or 5.8 percent, to $58.12 on Monday. The European benchmark crude traded at a premium of $5.92 to WTI.