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Oil prices decreased after US Crude Oil Inventories data release on Wednesday at 14:30 GMT. The one-minute candle lost 34 pips, or 0.50%, but the post-reaction caused a drop of 45 pips or 0.66%. In next hours the market recovered to continue fluctuating in the 67.8 area.
The Energy Information Administration released the US Crude Inventories data that came out higher-than-expected. Instead of the expected negative 2.8 million, the data came out only 1.4 million negative.
The Australia and New Zealand Banking Group announced on Wednesday: "Crude oil prices rose as the reality of US sanctions on Iran weighed on sentiment."
| Historical Data Table: Crude Oil Inventories | Economic Calendar for 16.08.2018 | ||||||||
| Date | 11.07.2018 | 18.07.2018 | 25.07.2018 | 01.08.2018 | 08.08.2018 | 8:30 AM | UK Retail Sales m/m |
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| Actual | -12.6M | 5.8M | -6.1M | 3.8M | -1.4M | 12:30 PM | CA Manufacturing Sales m/m |
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| Forecast | -4.1M | -3.4M | -2.6M | -2.6M | -2.8M | 12:30 PM | US Building Permits | ||
| Initial Reaction on Main Pairs | SWFX Sentiment Indexes | ||||||||
| Open Price | Close Price | % Change | Longs | Shorts | |||||
| Light/USD | 67.97 | 67.855 | -0.17% | Light/USD | 61.52% | 38.48% | |||
| Brent/USD | 73.585 | 73.365 | -0.30% | Brent/USD | 47.48% | 52.52% | |||
| USD/CAD | 1.30609 | 1.30625 | 0.01% | USD/CAD | 56.53% | 43.47% | |||
| USD/RUB | 64.6344 | 64.64983 | 0.02% | USD/RUB | 53.72% | 46.28% | |||