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Crude Oil Recovers Over Disappointing API Report, Awaiting U.S Inventories

6 July 2017 06:55 PM BDT
Crude Oil Recovers Over Disappointing API Report, Awaiting U.S Inventories

FxGrow Daily Technical Analysis – 06th July, 2017 By FxGrow Research & Analysis Team Crude Oil Recovers Over Disappointing API Report, Awaiting U.S Inventories Crude oil plunged yesterday at $44.52 low after clocking a monthly high on Tuesday $47.30 bp. Reports (Reuters) showed that exports by OPEC counties has surged during pushing oil prices lower. American Petroleum Institute (API) on Wednesday showed U.S. crude inventories fell more sharply than expected, down 5.8 million barrels in the week to June 30, against expectations for a draw of 2.3 million barrels (Reuters), pushing back oil levels at ... For more in depth Research & Analysis please visit FxGrow. Note: This analysis is intended to provide general information and does not constitute the provision of INVESTMENT ADVICE. Investors should, before acting on this information, consider the appropriateness of this information having regard to their personal objectives, financial situation or needs. We recommend investors obtain investment advice specific to their situation before making any financial investment decision.  

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