Oil continues unsuccessful attempts to increase above 63 dollars

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The oil market is without important change. Prices are still attempting growth, followed by profit-taking, giving buyers in despair. So, the day before Brent came across an offer in the region of 63 and rolled, finishing on a mark of 62, and trampled on early in the session environment.
Investor sentiment on global markets remain quite volatile, but overall looked nice, but were unable to support raw segment, partly due to the strong dollar. The currency continues to exhale after the recent “care” of the Federal reserve and may continue to rise today, if the statistics from Europe will continue to disappoint.
The local factor, which at least will limit the potential recovery of Brent, is the API report, reflecting the growth of stocks of crude oil in the United States by 2.5 million barrels after rising by 2 million a week earlier. Gasoline stocks rose 1.73 million, and stocks in Cushing – almost 1 million barrels. The report does not openly bearish numbers, but there is no positive hints that the market could hold on to. However, if the official report of the energy will be more modest and reflect the smaller growth indices, quotes may slightly rise.
In General, a lot will depend on General investor sentiment, dollar dynamics, statistics and news from the geopolitical front. The main task of Brent in the near future remains local breakthrough resistance at $ 63 per barrel instead of the dynamics in the style of “one step forward, two back”.
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Michael Mashchenko,
Analyst social network for investors
eToro in Russia and the CIS