Brent crude stayed above $126 a barrel as expectations for a boost in US crude inventories improved the economic outlook for the world’s largest oil consumer.

The US Energy Information Administration is expected to report a fourth consecutive rise in weekly crude oil inventories today.

US commercial crude oil stocks are expected to rise 1.7 million barrels, with gasoline stocks expected to be down by a million barrels, while distillates have fallen to 1.3 million, reports Reuters.

In addition, Brent crude fell 2 cents to $126.20 a barrel after closing at an 11 month high, while US crude rose by 12 cents at $106.83, reports Reuters.