Oil now
At the trading on Wednesday, oil prices slowed growth after European stock indices went into the red zone. The pressure on oil comes from the growing pessimistic market sentiment, technical correction after yesterday’s growth and expectations of data on oil inventories in the United States. Earlier, the API report showed an increase in oil reserves in the US by almost 2 million barrels per week, which in fact did not cause a reaction in the oil market.
Today, the oil market will expect an EIA report, namely a decrease in crude oil inventories and stocks of petroleum products. It was the decline in oil reserves that previously provided the main support to the cost of oil.
Look Technical Analysis of Oil.
Brent crude oil traded in the region of $ 67.20, a decrease of about -0.30% in price.
WTI crude oil traded in the region of $ 59.50, a decrease of about -0.70% in price.
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Dani Leviant
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