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Oil  traded near the highest price in more than a month in New York after Goldman Sachs Group Inc.predicted “upside” potential, amid signs U.S. crude stockpiles are increasing less rapidly than previously forecast.Futures were little changed after advancing 2.3 percent yesterday. Energy Department data today may show that supplies climbed 2 million barrels. Yesterday’s report by the industry-funded American Petroleum Institute indicated they dropped for a third week. Goldman Sachs  said an improving economic outlook in Europe and declining crude supplies may present “a real upside risk” to Brent prices. “The market certainly drew some support from pronounced crude and product draws in the API data, as well as more optimism creeping back in about the euro-zone bailout,” said Andrey Kryuchenkov, an analyst at VTB Capital in London, who predicts prices will end the year little changed from current levels. “Libya will come back on line, but not especially fast, and geopolitical risks surrounding Iran will give support.”

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