16 November 2022
On November 16 the data on crude oil reserves from the US Department of Energy will be released. Crude oil reserves of Energy Information Administarion (EIA) are estimated by the weekly increase in barrels of commercial oil held by US firms. Inventory levels affect the price of petroleum products, which in turn affect inflation and other economic forces.
What data is expected this time, we'll find out from our expert:
The American Petroleum Institute reported a reduction in black gold reserves in US storage facilities by 5.8 million barrels. Commercial oil reserves in the United States are now at a seven-year low, and the strategic oil reserve has fallen to 1984 levels. Low inventories are favorable for rising oil prices. Today consider buying #WTI, #BRENT, #Continenta, #Exxon.
Now is a good time to pay attention to the fuel, as all of November, oil is traded without swaps.
If you have any questions, don't hesitate to contact us:
Good luck in trading!
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