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Oil makes a round turn on API inventories

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Feb 9, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    Oil has caught a bid on the prelude to tomorrow's official EIA inventory data due in morning of the US shift.

    The API weekly crude oil stocks numbers arrived with a rise of inventories +2.4m bbls.

    Tomorrow's EIA report is estimated for a stock piles to rack up a further 3012.5K barrels.

    At time of writing, WTI rallied to $28.52bbls from $128.15 the low. Spot is headed back to the start again, $28.27bbls at time of writing.
    For more information, read our latest forex news.
     

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