Oil now

Oil quotes on Wednesday remain under pressure of risks and data on the growth of oil inventories in the US from the API. As a result, oil quotes rushed to the July lows. At the same time, the main negative factor for oil remains concerns about the growth of oil production, as indicated by the main factors. These APIs showed an increase in crude oil inventories in the US more than 3.5 million barrels. Now the market will expect confirmation of this growth from the EIA report, which will be released by the end of the European session.

Look Technical Analysis of Oil.

At the moment, Brent crude is trading around $ 71.70, a decline of about -1.00% in price.

Oil brand WTI is trading at $ 66.40, a decline of about -1.30% in price.

Read also: “Australia: the state of the economy and prospects for raising the interest rate of the RBA”

Dani Levitan

Earn with the help of the trade service on the news Erste News!

Topical articles of the trader’s blog:

1. Medium-term prospects for the US dollar for August-September
2. Emerging markets and their prospects: Chinese yuan (CNH or CNY)
3. Stock indices: the Japanese market

Current Investment ideas:

1. Preparing to have profits on an optimistic report of Alcoa Inc.!
2. On weak reporting of Boeing shares we can get a strong income!