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Brent on Wednesday to Cost $52.30-53.50 per Barrel

The fundamental factors to Wednesday’s trading are multiple. The American markets closed yesterday with a decent growth as part of a recoil after two minor sessions. Asset sales on the Chinese stock market are now not looking so scary. The Japanese Nikkei is down slightly.

Oil prices on Wednesday morning are down: a barrel of Brent costs $53.09 (-0.4%). The API published its oil reserve report yesterday: US reserves have fallen by 1.9 million barrels against a 0.9 million forecasted reduction. In the second half of today the world will see what the EIA says on the subject. A drop is also forecasted. Brent on Wednesday will cost $52.30-53.

Euro/dollar trading on the forex market is minimal this morning. The clearer the indication given by the Fed about a rise in interest rates, the stronger the dollar will go.


Forecasts which are made in the review constitute the personal view of the author. Commentaries made do not constitute trade recommendations or guidance for working on financial markets. Alpari bears no responsibility whatsoever for any possible losses (or other forms of damage), whether direct or indirect, which may occur in case of using material published in the review.

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