Oil today: oil expects data on oil reserves in the US
At trades on Wednesday, oil quotations are trading at the opening day level after mixed fluctuations caused by the general decline in oil prices and the expectation of a reduction in crude oil in the US according to the API.
Thus, the latest API data over the past week showed a significant decrease in crude oil reserves in the US by 7.4 million barrels, which is a significant reduction with a relatively low increase in gasoline and distillate stocks. Now, market is focused on data on oil stocks by the EIA and the OPEC report, which will also be released today.
Recommended for reading: Technical analysis.
- 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.
WTI chart, current price – $ 57.50
Brent chart, current price – $ 63.70
Hanzenko Anton