LONDON: World oil prices rose Wednesday before the US Department of Energy's crude stockpiles report and testimony in Congress by Federal Reserve chief Janet Yellen.
The US benchmark, West Texas Intermediate for delivery in June, climbed 76 cents to $100.26 a barrel.
Brent North Sea crude for June added 24 cents to trade at $107.30 a barrel in midday deals in London.
"Today, market participants will pay some attention to the US weekly fuel inventory numbers for the week to 2 May," said analyst Andrey Kryuchenkov at Russian financial services group VTB Capital.
Analysts expect a report on US crude supplies to be released later on Wednesday to show an increase.
That could suggest weaker demand in the world's top oil consuming nation, which would normally depress crude prices.
Yellen is meanwhile scheduled to testify before a joint committee in the US Congress later in the day and traders will focus on her assessment of the health of the US economy.
Dutch bank ABN-AMRO said in a note it expects Yellen to reiterate the message that the Federal Reserve "was becoming more optimistic about the strength of the economy, after the winter slump in the beginning of the year".
The crisis in Ukraine, a major conduit for Russian oil and gas exports to Europe, also kept prices supported, analysts said.
Russia rejected a new peace initiative on Tuesday as fears of open war mounted in the former Soviet state, where government forces are battling Moscow-backed separatist militias.
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