Oil prices have decreased after the US Crude Oil Inventories data release on Wednesday at 14:30 GMT. The one-minute candle lost 22 pips or 0.31% after which, the rate surged upwards to trade at the 70.80 level.
The Energy Information Administration released the US Crude Levels data that came out lower-than-expected of negative 5.3M, compare to forecasted negative 1.3M.
The Dukascopy analysts were not expecting the price drop of negative 22 pips or 0.31% at the release time. The crew predicted the price surge at the release time, but the expectations were not fulfilled this time.
The released number is putting stockpiles 3% below their five-year average for the US Crude Oil Inventory according to the Energy Information Administration.
| Historical Data Table: Crude Oil Inventories | Economic Calendar for 13.09.2018 | ||||||||
| Date | 15.08.2018 | 22.08.2018 | 29.08.2018 | 06.09.2018 | 12.09.2018 | 11:00 PM | UK Official Bank Rate | ||
| Actual | 6.8M | -5.8M | -2.6M | -4.3M | -5.3M | 11:45 PM | EUR Main Refinancing Rate | ||
| Forecast | -2.6M | -1.6M | -0.7M | -2.2M | -1.3M | 12:30 PM | US CPI m/m | ||
| Initial Reaction on Main Pairs | SWFX Sentiment Indexes | ||||||||
| Open Price | Close Price | % Change | Longs | Shorts | |||||
| Light/USD | 70.33 | 70.28 | -0.07% | Light/USD | 52.04% | 47.96% | |||
| Brent/USD | 79.545 | 79.535 | -0.01% | Brent/USD | 29.84% | 70.16% | |||
| USD/CAD | 1.30111 | 1.30079 | -0.02% | USD/CAD | 50.44% | 49.56% | |||
| USD/RUB | 69.01681 | 69.01125 | -0.01% | USD/RUB | 41.94% | 58.06% | |||