Crude oil is trying to rebound. The high price extended back above the $70 level
globalreutersSeptember 5, 20241 Mins read Crude oil prices are trying to rebound today with the price currently trading at $70 up $0.80 or 1.15%. The high price extended to $70.54. The low price was at $69.17. OPEC+ decided to delay the October output increase which was rumored yesterday.
At the TOP of the hour, the weekly EIA and oil inventory data will be released:
- Crude expected drawdown -0.993M barrels
- Distillates expected build of 0.481M barrels
- Gasoline expected drawdown of -0.730M barrels
The private data yesterday showed a larger than expected drawdowns in crude stocks by -7.4M. Gasoline and Distilates were also drawdown but less so vs Gasoline:
This article was written by Greg Michalowski at www.forexlive.com.
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