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Oil prices have increased after US Crude Oil Inventories data release on Wednesday at 14:30 GMT. The five-minute candle gained 69 pips, or 1.03%, and continue increasing for the end of the day.
The Energy Information Administration released the US Crude Levels data that came out better-than-expected of 5.8M, compare to forecasted negative 3.4M.
The managing editor from S&P Global Platts, James Bambino, said: "The build brings current stocks to around 1.8 percent below the five-year of EIA data, in from over 4 percent below the week prior. his means that not only are crude stocks rising, but they are also lining up more closely to historical norms."
| Historical Data Table: US Crude Oil Inventories | Economic Calendar for 20.07.2018 | ||||||||
| Date | 22.02.2018 | 28.02.2018 | 05.07.2018 | 11.07.2018 | 18.07.2018 | 3:00 AM | NZ Credit Card Spending y/y | ||
| Actual | -1.6M | 3.0M | 1.2M | -12.6M | 5.8M | 4:30 AM | Japanese All Industries Activity m/m | ||
| Forecast | 2.2M | 2.4M | -4.4M | -4.1M | -3.4M | 6:00 AM | EU German PPI m/m | ||
| Initial Reaction on Main Pairs | SWFX Sentiment Indexes | ||||||||
| Open Price | Close Price | % Change | Longs | Shorts | |||||
| AUD/USD | 0.73646 | 0.73681 | 0.05% | AUD/USD | 66.61% | 33.39% | |||
| EUR/USD | 1.16406 | 1.16439 | 0.03% | EUR/USD | 60.48% | 39.52% | |||
| USD/JPY | 112.836 | 112.784 | -0.05% | USD/JPY | 44.46% | 55.54% | |||
| NZD/USD | 0.67744 | 0.67761 | 0.03% | NZD/USD | 59.75% | 40.25% | |||