U.S. crude oil inventories fell less-than-expected last month, official data showed on Friday.
In a report, Energy Information Administration said that U.S. Crude Oil Inventories fell to a seasonally adjusted annual rate of -0.586M, from -0.964M in the preceding month.
Analysts had expected U.S. Crude Oil Inventories to fall -1.857M last month. from inv
In a report, Energy Information Administration said that U.S. Crude Oil Inventories fell to a seasonally adjusted annual rate of -0.586M, from -0.964M in the preceding month.
Analysts had expected U.S. Crude Oil Inventories to fall -1.857M last month. from inv
Our preference: Long positions above 0.9967 with targets @ 0.997 & 0.998 in extension.
Alternative scenario: Below 0.9906 look for further downside with 0.9905 & 0.988 as targets.
Comment: a support base at 0.9831 has formed and has allowed for a temporary stabilisation.
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