Data on oil reserves in the USA
- Reserves of crude oil in the US is 2,072M, the forecast is -2,000M.
- The reserves of gasoline in the US is 4.603M, the forecast is 0.587M.
Expectations to reduce oil reserves in the US were not justified, thereby increasing pressure on oil after a restrained correction throughout the day. At the same time, it is worth noting a decrease in the volume of oil products production in the USA.
In addition to the resumption of pressure on the oil market, the increase in oil reserves in the United States has increased the gap in the cost of the main brands of oil Brent and WTI, which confirms the negative sentiments in the oil market.
- At the moment, Brent crude oil is traded at around $ 74.80, an increase of about + 0.70% in price.
- Oil brand WTI is traded at $ 64.80 mark, an increase of about -1.10% in price.
Also, read: “Carry trade – the strategy of earning on cross-courses”
Hanzenko Anton