07 June 2017
Every week US Energy Information Administration (EIA) releases oil inventories report that measures the weekly change in the number of barrels of commercial crude oil held by US firms.
Previous week oil inventories report forecast by FreshForex experts has proven to be correct: Brent and WTI prices rose by 1,04%.
The leading FreshForex analyst Catherine Main commented on the US Oil Inventories report scheduled on June 7 at 2.30 p.m. GMT as follows:
“Oil inventories in the United States have fallen for the last 8 weeks, and we believe that fall will continue, as in US vacation season has started, which causes consumption increase in the oil product market. Brent and WTI prices are likely to rise by 1%.”
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