Market Focus

On Wednesday, April 25, 2018, the economic calendar will be almost empty, so a special attention should be paid to technical analysis and the movement of the basic drivers. Today, data on oil and petroleum products in the US will be published.

• According to the forecast, oil reserves for the past week increased by 1,117 million barrels, against the decline in the previous period at the level of -1.071 million barrels.
• Gasoline reserves are expected to decrease by -1.269 million barrels, which is lower than the decline in the previous period at -2.968 million barrels.

The release of data within the forecast can confirm investors’ concerns about the growth of supply of raw materials in the market, which will put pressure on oil prices.

Alexander Sivtsov