(VIANEWS) – The weekly report by the US Energy Information Administration, (EIA), revealed Wednesday that Crude Oil Stocks changed in the US to -4.1 million barrels during the week ended July 23. According to analysts, the decline was 2.9 million barrels.
FXStreet confirmed that the report isn’t having an impact on crude oil price. The barrel of West Texas Intermediate stood at $72.07, up 0.2% since the last writing.
WTI, the West Texas Intermediate (also known as Texas Light Sweet), an oil benchmark used in commodity trading and one of the one of three major oil trading benchmarks ( the others being Brent crude and Dubai/Oman) holds above $72.
Crude Oil (CL) is currently on bullish momentum. At 15:04 EST on Wednesday, 28 July, Crude Oil (CL) is at $72.38 and 1.02% up since the last session’s close.
Today’s last reported volume for Crude Oil is 291791, 100% below its average volume of 51616410366.61.
Crude Oil Range
Regarding Crude Oil’s daily highs and lows, it’s 1.829% up from its trailing 24 hours low of $71.08 and 0.069% up from its trailing 24 hours high of $72.33.
Crude Oil’s last week, last month’s, and last quarter’s current volatility was a negative 0.15%, a negative 0.10%, and a positive 1.29%, respectively.
Crude Oil’s current volatility rank, which measures how volatile a financial asset is (variation between the lowest and highest value in a period), was 3.35% (last week), 1.69% (last month), and 1.29% (last quarter), respectively.
Commodity Price Classification
According to the stochastic oscillator, a useful indicator of overbought and oversold conditions, Crude Oil’s commodity is considered to be overbought (>=80).
Last news about Crude Oil (CL)
WTI crude oil forecast: market has quiet Friday session – 26 July 2021. According to DailyForex on Monday, 26 July, “The West Texas Intermediate Crude Oil market did very little during the trading session on Friday, but despite the fact that we had no real range for the day, the reality is that the market was willing to sit at these elevated levels after the last three bullish sessions. ”
WTI crude oil forecast: market bounces from major figure – 27 July 2021. According to DailyForex on Tuesday, 27 July, “The West Texas Intermediate Crude Oil market fell a bit during the trading session on Monday, reaching towards the $70 level. ”
WTI crude oil forecast: market continues to hover above $70 – 28 July 2021. According to DailyForex on Wednesday, 28 July, “The West Texas Intermediate Crude Oil market pulled back just a bit during the trading session on Tuesday, but then turned around to show signs of strength. ”
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