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Oil prices have increased after US Crude Oil Inventories data release on Thursday at 15:00 GMT. The one-minute candle gained 21 pips or 0.30% to continue trade at 68.00 level.
The Energy Information Administration released the US Crude Levels data that came out lower-than-expected of negative 4.3M, compare to forecasted negative 2.2M. The released numbers mean that there is a lot of unused crude oil leftovers across the United States, which might slow down the US economy.
The volatility increased by a half of what was expected, which was a disappointment for the data release. The reason behind such numbers is US sanctions against the consumers of Iranian Oil.
| Historical Data Table: Crude Oil Inventories | Economic Calendar for 10.09.2018 | ||||||||
| Date | 08.08.2018 | 15.08.2018 | 22.08.2018 | 29.08.2018 | 06.09.2018 | 8:30 AM | UK GDP m/m | ||
| Actual | -1.4M | 6.8M | -5.8M | -2.6M | -4.3M | 8:30 AM | Uk Manufacturing Production m/m | ||
| Forecast | -2.8M | -2.6M | -1.6M | -0.7M | -2.2M | 8:30 AM | UK Goods Trade Balance | ||
| Initial Reaction on Main Pairs | SWFX Sentiment Indexes | ||||||||
| Open Price | Close Price | % Change | Longs | Shorts | |||||
| Light/USD | 68.55 | 68.69 | 0.20% | Light/USD | 53.22% | 46.78% | |||
| Brent/USD | 77.361 | 77.501 | 0.18% | Brent/USD | 33.00% | 67.00% | |||
| USD/CAD | 1.31968 | 1.31964 | 0.00% | USD/CAD | 56.08% | 43.92% | |||
| USD/RUB | 69.16714 | 69.1912 | 0.03% | USD/RUB | 47.41% | 52.59% | |||