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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 73 pips, or 1.06%, and continue fluctuating from the 68.219 area to 69.255.
The Energy Information Administration released the US Crude Stocks data that came out lower-than-expected of negative 6.1M, compare to forecasted negative 2.6M.
Olivier Jakob a Founder, Managing Director and Editor at Petromatrix said: "The passage is not as crucial as the Strait of Hormuz ... but restricted flows through it would have an impact not just for crude but also for products due to the longer voyage time that is needed to sail by the Cape".
| Historical Data Table: US Crude Oil Inventories | Economic Calendar for 26.07.2018 | ||||||||
| Date | 28.02.2018 | 05.07.2018 | 11.07.2018 | 18.07.2018 | 25.07.2018 | 12:30 PM | EU ECB Press Conference | ||
| Actual | 3.0M | 1.2M | -12.6M | 5.8M | -6.1M | 12:30 PM | US Core Durable Goods Orders m/m | ||
| Forecast | 2.4M | -4.4M | -4.1M | -3.4M | -2.6M | 12:30 PM | US Durable Goods Orders m/m | ||
| Initial Reaction on Main Pairs | SWFX Sentiment Indexes | ||||||||
| Open Price | Close Price | % Change | Longs | Shorts | |||||
| AUD/USD | 0.74125 | 0.7418 | 0.07% | AUD/USD | 65.93% | 34.07% | |||
| EUR/USD | 1.16917 | 1.1696 | 0.04% | EUR/USD | 58.59% | 41.41% | |||
| USD/JPY | 111.079 | 111.086 | 0.01% | USD/JPY | 40.82% | 59.18% | |||
| NZD/USD | 0.68096 | 0.68127 | 0.05% | NZD/USD | 62.97% | 37.03% | |||