What's important for Crude Oil traders today? The American Petroleum Institute is due to report the weekly inventory levels of US crude oil, gasoline and distillates stocks. The figure shows how much oil and product is available in storage. The indicator gives an overview of US petroleum demand. The draw in inventories increases the prices of Crude Oil, whereas, the inventory builds diminishes the prices over lower demand concerns.
The time of release is tentative, but it's most often releases during the US sessions. The previous figure reported a build of 2. Let's wait and watch for the new figures.
Technically, the Crude Oil has completed the For now, investors are waiting for the fundamentals, and technical levels will adjust to new events accordingly. Stochastics are signaling bullishness in the Oil. Traders, it's better to wait for the API report before entering any position in Oil prices often reacts more than pips on this news. Arslan is a professional market analyst and day trader. How to Trade Forex. What is Social Trading? Forex Trading News Let our experts share their knowledge with you!
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