31 May 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.
This week report is scheduled on June 1, at 3 p.m. GMT and may cause significant oil prices change.
The leading FreshForex analyst Catherine Main commented on the report as follows:
“This week vacation season has started in USA, which traditionally leads to declining oil inventories. Americans like traveling by car during summer season, that's why high oil products demand is observed. US oil inventories have reduced for 7 weeks in a row. This tendency may be expected to continue, which will have positive impact on oil prices. Brent and WTI quotes increase by 1% may be expected.”
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