In the background of summary of the meeting of OPEC, the US EIA published information about change in crude oil inventories over the past week. Markets expected increase by 1.5 million barrels after declines of 1,255 million last week. The report showed, however, that once again dwindled – this time by 884,000 barrels.
Other components of the report went up
While stocks of crude oil declined last week, the stocks of fuels, distillates are clearly growing. For USD/CAD information didn’t provoke a stronger reaction, as well as on oil. Both the Canadian dollar and the black gold gained strongly as a result of today’s meeting of OPEC, and positive gossip from the market concerning the planned agreement.
WTI crude oil briefly tested 49.00, but now goes down in around 78.6% Fibonacci abolition and session highs of 23 and 24 November. In this place can show stronger support:
