Oil in the US: reserves continue to decline

26 August 2020

Trading signals: oilDear clients,

Today, on August 26 at 14:30 GMT, the US Department of Energy will publish a new report on oil stocks in the country. This is an important indicator showing the level of demand and prices for black gold.

Leading analyst at FreshForex gives the following recommendations on this matter:


The American Petroleum Institute has reported on the reduction of black gold reserves in the US storage facilities by 4.5 million barrels. This is the fourth week in a row when stocks have declined. We will see reserves decline again next week as far as begins the hurricane season in the Gulf of Mexico, where American companies produce significant amounts of hydrocarbons. Today consider buying #WTI, #BRENT.


Prepare for a volatile event in advance and get additional funds with the 101% drawdown bonus.

Oil in the US: reserves continue to decline

 

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