Data on oil reserves in the USA

According to the EIA, crude oil reserves in the United States decreased by 5.1 million barrels over the past week, thereby confirming the negative dynamics of the US oil reserves in the API version.

As a result, oil prices are prone to growth, despite the restrained dynamics caused by the uncertainty of the market. The OPEC report is a restraining factor, which expresses concerns about the growth of oil exports from countries outside the cartel and an agreement to limit production.

Thus, the dynamics of oil will remain limited due to increasing fears. At the same time, both major oil brands maintain an upward trend and limit themselves to recent highs.

• The nearest resistance levels: for WTI – 58.00 and 58.50 $ per barrel, for Brent – 64.50 and 65.00 $ per barrel.
• Support levels: for WTI – 57.00 and 56.50 $ per barrel, for Brent – 63.50 and 63.00 $ per barrel.

Hanzenko Anton