Trade n Trend

Home » Crude Oil » Oil Market regain momentum after EIA report

Oil Market regain momentum after EIA report

The Brent Oil & WTI Oil  have regained upside momentum, with WTI up 0.50% to $ 34.81 while the Brent oil trades 0.32% higher just above $ 37. Oil extends its 4-day winning streak as markets believe that the black gold prices may have found a floor after the US oil jumped above $ 35 mark, despite the EIA report showed a bigger than expected build in the US crude reserves. The US crude inventories rose 2% last week, or 10.4 million barrels, to a fresh record of 517.98 million barrels last week, EIA weekly report showed.

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: