country flagالعربية

Oil prices are mixed in performance Tuesday

2018-03-13 12:18 pm | Resource: NEWS | No Views : 28

Oil prices were mixed Tuesday as investors awaited preliminary data on US crude stockpiles released by the US Petroleum Institute (API) amid rising inventories for the third week in a row, with official data released by the US Energy Information Administration on Wednesday.

US crude fell 0.16% to reach $ 61.24 a barrel. US crude opened the day at $ 61.30, recording a high of $ 62.10 and a low of $ 60.90. Brent crude Today's trading at $ 64.98, recording a high of $ 65.25 and a low of $ 64.67, recording Brent crude falling 0.22%
US crude oil drilling platforms fell four times to 796 platforms last week, according to Baker Hughes data released on Friday, and the number of gas platforms increased seven platforms to 188 during the week ending March 9 compared to 151 platform in the same period of 2017.
The US Energy Information Administration announced last Thursday that US crude inventories, which showed a decrease in the surplus to about 2.4 million barrels last week, compared to about 3.0 million barrels in the previous reading, which came below expectations at a surplus of about 2.6 million barrels, to witness Inventories rose to about 425.9 million barrels.
US crude saw a 70,000 bpd rise in production, the second consecutive weekly increase to 10.37 million bpd, the highest level of US production ever. US production has risen 21% since mid-2016, Saudi Arabia, which is stable at 9.9 million barrels per day, to approach the production of Russia's largest oil producer globally at 10.9 million barrels per day.

Other analysis

OIL Technical analysis 16 March 2018

  Time frame Used - four hours Oil is moving in a sideway in the  near-term Oil is still facing selling pressure around the downtrend line as the  oil faced selling and resistance pressure around 61.52, retreating to  60.65   In view of the technical indicators Both the RSI and the Stochastic are indicating to the start of a decline in indicators Accordingly, we expect that the  oil will  test…

More analysis

Best trading brokers

All Rights Reserved
Risk Disclaimer: Trading in foreign exchange market (Forex) includes the risks and the possibility of loss. That is why we are keen on providing the highest quality news and analysis concerning the different markets traded. The opinions expressed in the site indicate the opinion of the author only and not the views of the administration or the public, knowing that errors could be encountered and there is a possibility to commit them. Before starting to trade you should carefully consider your investment objectives, and review the level of experience and risk appetite. In some cases, possible high leverage can lead to loss of funds invested, so you can not invest money that you can not handle its possible loss. You should be aware of all the risks associated with foreign exchange trading and seek for advices from an independent financial advisor if you have any does not assume any responsibility after the occurrence of financial loss to the dealer and the user carries full responsibility for the losses resulting from the use of news, analysis and data on the site.