Oil pumpjack fire

It's been a struggle for crude so far this year but WTI is showing some signs of life. WTI crude is up $0.97 today to $69.97 ahead of US EIA weekly oil inventory data at the bottom of the hour.

Private weekly crude oil inventory was released late yesterday and showed:

  • Crude -4600K
  • Gasoline -3300K
  • Distillates -1300K

There is a bit of a headwind from risk sentiment though but crude is fighting it for now.

Source: Forex Live