Brent Crude Oil Higher By Reuters Poll Expected Decline In Inventories

The Private Banker
By Seb of The Private Banker IO
Trader •

Brent rose about 1.3% in the early European trading session. A Reuters poll showed expectations of a decline in US crude oil inventories in the week to August which might boost the price higher.

Brent rose about 1.3% in the early European trading session.

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A Reuters poll showed expectations of a decline in US crude oil inventories in the week to August which might boost the price higher, waiting for the API inventories later of this session.

The market found buyers around the lows and distribution back from July – this could leading the market higher towards the Quarterly DVAL level which may be serving as resistance. Demand for oil products might be boosted by a possible passage of the often mentioned $1 trillion infrastructure bill.

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