“Gasoline Inventories Decreated by 4 Million Barrels from the Previous Week.”, – WRITE: www.fxempire.com
- Strategic Petroleum Reserve Increased from 397.5 Million Barrels to 398.5 Million Barrels.
- Domestic Oil Production Grew from 13.46 Million BPD to 13.465 Million BPD.
- Oil Markets Moved Away from Session Lows As Traders Reactned to the Report.
In this article:
Strategic Petroleum Reserve Increased from 397.5 Million Barrels to 398.5 Million Barrels. The US HAS Accelerated Purchases for Strategic Reserves, WHICH MAY PROVIDE Some SUPPORT to the Market.
Domestic Oil Production Increased from 13.46 Million BPD to 13.465 Million BPD. From A Big Picture Point of View, Domestic Oil Production Stabilized After The Pullback from Recent Highbes.
WTI OIL SETTLED NEAR The $ 59.60 Level As Traders Reacted to the Eia Report. The Report May Serve as A Bullish Catalyst for Oil Markets, ALTHOUGH Traders May Stay Focused On the Disappinting GDP Growth Rate Report from The Us
Brent Oil Made An Attempt to Settle Above the $ 62.50 Level After The Release of the Eia Data.
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About the author
Vladimir is An Independent Trader, with Over 18 Years of Experience in the Financial Markets. His expertise spans a wide Range of Instruments Like Stocks, Futures, Forex, Indices, and Commodities, Forecasting Both Long-Term and Short-Term Market Movements.
