22 Mar

US Crude Oil Inventories Forecast on 22 March 2017

admin Forex Fundamental Outlook 0 Comments

US Crude Oil Inventories Forecast on 22 March 2017

Crude oil prices are getting support early Yesterday on speculation that the OPEC-led production cuts can be extended beyond the June closing date. OPEC sources are representing that several of the cartel’s members might be on-board for an addition of the program that would keep on reducing output in an effort to trim the too much supply that remains obstinately large.
The weaker US Dollar is also given that support for the dollar-denominated crude oil marketplace on assumption of increased foreign demand. Lastly, some traders are saying that yesterday’s API-American Petroleum Institute’s stockpiles report is predictable to show a mount back towards record highs following previous week’s surprise draw.
Oil prices advanced lower in unpredictable trading tied to the ending of the April futures contracts, before data expected to expose an increase in weekly US crude oil supplies. Traders also kept a watch out for clues on whether the OPEC-Organization of the Petroleum Exporting Countries will expand the production-cut agreement between its members & other key producers beyond June. OPEC sources have point out those members more and more favor an addition but want the support of non-OPEC oil producers, which have so far to deliver fully on accessible cuts.
WTI crude oil was not capable to hold on to early increase even with a falling US dollar provided that support to commodity prices in common. specified the high instability & huge surprises in both directions of the last 3 weeks, it appears several traders might be going to the sidelines before the news, whereas others could be expecting a big build after previous week’s shock decline.
On 21st March 2017, the API-American Petroleum Institute will publish its weekly crude oil inventory report. The API’s report will be pursued by the US EIA-Energy Information Administration weekly crude oil inventory report for the week finishing 17th March 2017. The report will be released on today @08.00 pm (GMT +5.30).
Previous Next
Share This Post

Why we choose Forex Market?
Oct 06 , 2015

Forex, Commodity and Binary Trading Signals on 5th May 2016
May 04 , 2016

Forex Trading Terminologies
Oct 21 , 2015


Free Forex Trading Seminar In Salem
Aug 19 , 2018

Forex Weekly Technical Outlook on 7-11 August 2017
Aug 07 , 2017

Forex Weekly Technical Outlook on 24-28 JULY 2017
Jul 24 , 2017

watercolor paints

Read ICM Capital Review

  LeTechs Rating  
  Regulation   FCA
  Branches   UAE, China, Russia, Mauritius
  Bonus   $1000


watercolor paints

Read Fidelis Capital Markets Review

  LeTechs Rating  
  Regulation   FSA, St. Vincent and the Grenadines
  Branches   Except USA, Belgium and British Columbia
  Bonus   200% Bonus




Google Plus

Risk warning: Trading foreign exchange (Forex Trading) and contracts for differences (CFDs) on margin carries a high level of risk, and may not be suitable for all investors. There is a possibility that you may sustain a loss equal to or greater than your entire investment. Therefore, you should not invest or risk money that you cannot afford to lose. Please ensure you fully understand the risk involved before trading, and if necessary seek independent advice.

Copyright © 2015 LeTechs. All Rights Reserved.