• Forex
  • Investments
  • Loyalty program
  • Promotions and contests
  • Analysis
  • Getting started
  • About us

Bears shrug off crude oil inventory draw

Oil prices corrected downward, capping a multi-day rally on Wednesday, June 16. As a result, Brent dropped 0.53% to $73.37, while WTI slipped 0.83% to $71.55/bbl, failing to hold at the recent high of $72.

US crude stockpiles fell by a whopping 7.34 mln bbl, although analysts expected only a 3.3 mln bbl drawdown. However, selling broke out in oil futures amid a spike in the US dollar against world currencies after the Fed rolled its tapering timeline forward to 2023, with FOMC members mulling two hikes by that time, while the bears brushed aside the positive inventory data.

This morning, prices showed mild losses, with Brent down 0.28% and WTI is off 0.22%. Our Brent forecast for today is in the range of $73-74/bbl.

Latest reviews

Everyone has the chance to make a profit

You don't need to trade on your own to make a profit. Make a profit by entrusting your funds to experienced traders!


There's a better website for you

A new exciting website with services that better suit your location has recently launched!

Sign up here to collect your 30% Welcome Bonus.