17 May 2017
weekly US oil inventories report of EIA (Energy Information Administration) measures the weekly change in the number of barrels of commercial crude oil held by US firms.
This week report scheduled on May 17, at 2.30 p.m. GMT may cause oil prices change.
The leading FreshForex analyst Catherine Main commented on the report as follows:
“US crude oil inventories have decreased 5 weeks in a row. That indicates growing demand and has a positive impact on oil prices. Increased oil products demand season has started, so we may expect new decrease of oil inventories that will strengthen uptrend. Increase in Brent and WTI prices by 1%.”
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