The oil trades has added 1.5%
During trading Tuesday, Brent behaved ambiguously, but at the end of the day brightened the customers who submitted quotes around $ 65 per barrel. Thus, prices gradually recovered from daily lows observed in Asia in the area 63,50 dollars, adding the day of 1.5%.
The catalyst for growth was the API report, which pointed to the unexpectedly large reduction of stocks of crude oil in the United States. According to the Institute, last week stocks fell by 7.55 million barrels, three times stronger than predictions. What’s more, gasoline inventories decreased by 3.17 million barrels while stocks at Cushing fell by 1.26 million barrels.
On the one hand, positive release gives hope for favorable official data from the energy Ministry, which will be released today. On the other – after a strong performance figures of the Ministry can be disappointing and lead to a rollback of quotations, which now exhibit increased sensitivity to any signals.
Market participants also don’t forget to follow the news from the geopolitical front. Tension remains high. So, Tehran has promised to answer strongly for any new America’s violation of the airspace of Iran. But trump, in turn, has signaled that it will show the opponent their superior power, if he continues to attack anything American. In light of the ongoing verbal attacks and threats, oil prices will continue to stay afloat in the foreseeable future.
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