Oil today: oil is in anticipation of the EIA report
Oil quotations on Wednesday are trading near global highs after the API report on oil stocks in the US, which continued to show a decline in crude oil reserves in the US. Also, support for oil is provided by climatic conditions in the US and possible risks in the Middle East.
Today, the oil market will be focused on the EIA report, which, in addition to the volume of oil reserves, is expected to receive data on the production of oil in the United States. The fact that crude oil reserves in the United States decline is not in doubt and has a positive impact on the oil market. Oil production in the US also demonstrates growth, which, given the renewal of annual highs, could trigger a new wave of oil sales.
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- The nearest resistance levels: for WTI – 62.50 and 63.00 $ per barrel, for Brent – 68.50 and 69.00 $ per barrel.
- Support levels: for WTI – 61.50 and 61.00 $ per barrel, for Brent – 67.30 and 66.50 $ per barrel.
WTI chart, current price – $ 61.90
Brent chart, current price – $ 67.80
Hanzenko Anton