Oil edged higher towards $47 a barrel on Tuesday, supported by the prospect of lower U.S. inventories and production although concern about weaker Asian demand kept prices in check. While analysts expect reports this week to show no change in U.S. crude stocks overall, an estimate from market intelligence company Genscape that they fell by 1.8 million barrels at Cushing – U.S. crude’s delivery point – lent oil some support. Brent crude LCOc1 was up 26 cents at $46.63 a barrel, after declining in the previous two sessions. U.S. crude CLc1 was trading 38 cents higher at $44.38 at 0849 GMT. “Genscape is forecasting a large stock draw in Cushing,” said Olivier Jakob, analyst at Petromatrix. “The supply and demand numbers suggest that the low oil prices are starting […]