Crude oil looks to US inventory report for direction

Crude oil has bounced today ahead of the weekly inventory report which last week triggered five consecutive days of selling. A weaker dollar combined with a smaller-than-expected rise in the API stocks yesterday has helped the market recover. While expecting another rise in US inventories the market will be looking for another price supportive reduction in output

from Ole Hansen - Authored content https://www.tradingfloor.com/posts/crude-oil-looks-to-us-inventory-report-for-direction-7364002?utm_medium=tf4-feed&utm_source=extract