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Oil price have decreased after the US Crude Oil Inventories data release on Wednesday at 14:30 GMT. The one-minute candle lost 57 pips, or 0.77% right after the data release. In the next minutes the rate was trading at the 74.80 level.
The Energy Information Administration released the US Crude Inventories data that came out lower-than-expected of 8M, compare to forecasted 1.1M.
Gene McGillian, director of market research at Tradition Energy in Stamford, Connecticut. said: "I think we need to see weeks of these numbers to really wipe out worries about how tight supplies are," .
| Historical Data Table: Crude Oil Inventories | Economic Calendar for 05.10.2018 | ||||||||
| Date | 06.09.2018 | 12.09.2018 | 19.09.2018 | 26.09.2018 | 03.10.2018 | 1:30 AM | AUD Retail Sales m/m | ||
| Actual | -4.3M | -5.3M | -2.1M | 1.9M | 8M | 12:30 PM | CAD Employment Change | ||
| Forecast | -2.2M | -1.3M | -2.7M | -0.7M | 1.1M | 12:30 PM | US Average Hourly Earnings m/m | ||
| Initial Reaction on Main Pairs | SWFX Sentiment Indexes | ||||||||
| Open Price | Close Price | % Change | Longs | Shorts | |||||
| Light/USD | 74.865 | 74.345 | -0.69% | Light/USD | 38.32% | 61.68% | |||
| Brent/USD | 84.535 | 84.035 | -0.59% | Brent/USD | 27.62% | 72.38% | |||
| USD/CAD | 1.28202 | 1.28277 | 0.06% | USD/CAD | 42.17% | 57.83% | |||
| USD/RUB | 65.66121 | 65.74012 | 0.12% | USD/RUB | 59.50% | 40.50% | |||