The Energy Information Administration released the US Crude Oil Inventories data that came out better-than-expected of 8.0M, compared to forecast negative 0.2M.
"The breakdown in diplomatic relations was interpreted as upping the possibility of a U.S. sanction on Venezuelan oil that would likely force U.S. refiners to seek alternative supplies at higher prices, hence the WTI gains," Jim Ritter Busch, president of Ritter Busch and Associates, said in a note.
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| Historical Data Table: Crude Oil Inventories | Economic Calendar for 30.01.2019 | ||||||||
| Date | 19.12.2018 | 19.12.2018 | 09.01.2019 | 16.01.2019 | 24.01.2019 | 13:15 PM | US ADP Non-Farm Employment Change | ||
| Actual | -0.5M | -0.5M | -1.7M | -2.7M | 8.0M | 15:30 PM | US Crude Oil Inventories | ||
| Forecast | -2.7M | -2.7M | -2.4M | -1.4M | -0.2M | 19:00 PM | US Federal Funds Rate | ||
| Initial Reaction on Main Pairs | Open Position Proportions on 25.01.2019 | ||||||||
| Open Price | Close Price | % Change | Longs | Shorts | |||||
| Light/USD | 52.645 | 52.645 | 0.00% | Light/USD | 52.62% | 47.38% | |||
| Brent/USD | 60.915 | 60.761 | -0.25% | Brent/USD | 42.72% | 57.28% | |||
| USD/CAD | 1.33386 | 1.33418 | 0.02% | USD/CAD | 27.70% | 72.30% | |||
| USD/RUB | 65.73123 | 65.74673 | 0.02% | USD/RUB | 74.97% | 25.03% | |||