Oil prices were up slightly on Monday, as traders positioned themselves ahead of the release of key U.S. supply data. Late Wednesday, the American Petroleum Institute, an industry group, reported that U.S. oil inventories rose by 2.1 million barrels last week— a bearish sign of the continuing oversupply of crude. But market participants are awaiting data from the U.S. Energy Information Administration, which are typically seen as more definitive, later on Thursday. Analysts surveyed by The Wall Street Journal expect inventories to have increased by 1 million barrels last week. The EIA said on Wednesday that U.S. oil production fell to a nearly one-year low in August and was likely to keep falling well into 2016, an indication that the year-old price rout is affecting the country’s booming oil industry. Brent crude, the global oil benchmark, rose 0.2% to $47.68 a barrel on London’s ICE Futures exchange. On the […]