News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site.

0

Notifications

Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events

0

Economic Calendar

Economic Calendar Events

0
Free Trading Guides
EUR/USD
Mixed
Oil - US Crude
Bearish
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
Wall Street
Bearish
Gold
Mixed
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
GBP/USD
Mixed
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
USD/JPY
Mixed
More View more
Real Time News
  • There are many different types of forex orders, which traders use to manage their trades. While these may vary between different brokers, there tends to be several basic FX order types all brokers accept. Learn about different FX order types here: https://t.co/lIJdiz4xSz https://t.co/YUhC9cCDpy
  • The US Dollar has spent much of October giving back September’s gains. Is there any hope for change? Get your #currencies update from @JStanleyFX here: https://t.co/3EHa6PV5yH https://t.co/PrP9J2klJk
  • Traders utilize varying time frames to speculate in the forex market. The two most common are long- and short-term-time frames which transmits through to trend and trigger charts. Learn more about time-frame analysis here: https://t.co/UalZ8cRSXB https://t.co/wDVd2QvcjO
  • The longer-term EUR/USD outlook will hinge on Thursday’s ECB guidance; any hint of a further easing of Eurozone monetary policy would weaken it, but that is far from guaranteed. Get your #currencies update from @MartinSEssex here: https://t.co/RmHCfIwdqp https://t.co/hvETa6mtft
  • Traders tend to overcomplicate things when they’re starting out in the forex market. This fact is unfortunate but undeniably true. Simplify your trading strategy with these four indicators here:https://t.co/A4dqGMPylo https://t.co/M8WTvZgx2K
  • The Australian Dollar was under selling pressure this past week, but it held its ground. Bearish patterns brew in AUD/USD and AUD/JPY. Will EUR/AUD, GBP/AUD try to break higher again? Get your #currencies update from @ddubrovskyFX here: https://t.co/04kzJSqgNG https://t.co/ulPk1UneMM
  • Stocks are set to endure a string of data releases with market-moving potential in the week ahead in the form of tech earnings, European GDP and more, even as the US Presidential election clamors for the spotlight. #equities update from @PeterHanksFX here https://t.co/R6tpEvfXJb https://t.co/7koHTyh2AK
  • As we round our way towards a new week, Cable is within the confines of a bullish structure with beginnings back in September. Get your #currencies update from @PaulRobinsonFX here: https://t.co/NIbRTVmjqq https://t.co/zYma4Iq4dP
  • Myth or fact? One thing is for sure, there are a lot of misconceptions about trading. Knowing the difference between common trading myths and the reality is essential to long-term success. Find out about these 'myths' here: https://t.co/UGhbX6kn3H https://t.co/NE2RB1NT55
  • The Federal Reserve System (the Fed) was founded in 1913 by the United States Congress. The Fed’s actions and policies have a major impact on currency value, affecting many trades involving the US Dollar. Learn more about the Fed here: https://t.co/ADSC4sIHrP https://t.co/MVwUUltt6R
Crude Prices Rise as US Inventories Fall for Fifth Week

Crude Prices Rise as US Inventories Fall for Fifth Week

2016-10-05 22:54:00
Varun Jaitly,
Share:

Talking Points:

  • Crude oil prices rose momentarily as the EIA reported a fifth week of inventory reductions
  • Crude oil inventories fell by 2.3m barrels and gasoline inventories rose 222k bbl last week
  • Implied demand averaged 19.9 million barrels, up 3 percent from this time last year

Check out the DailyFX 4th Quarter Oil Forecast, HERE.

Crude oil prices curiously fell about 0.3 percent today following the release of US inventory data as the Energy Information Agency reported its fifth week of stockpile reductions. A reduction in stockpiles might have been expected to boost prices under most circumstances. Prices came back up within 15 minutes of the release and eventually erased their losses.

Crude inventories fell 2.3 million barrels last week, while analysts expected an addition of 1.5 million. Gasoline inventories rose less than expected at 222 thousand barrels, compared to the 555 thousand expected. Distillate inventories fell more than expected by 2.3 million barrels, as compared to 1.5 million expected.

The weekly EIA report also noted that despite 5 weeks of crude inventory draws, stockpiles remain at “historically high levels for this time of year”, with total inventories coming in at 499.7 million barrels. Total products supplied, or “implied demand”, averaged 19.9 million barrels per day, which is 3 percent greater than this time last year.

Later this week, Baker Hughes will release their weekly rig count data. Next week, the International Energy Agency will release its monthly Oil Market Report.

Crude Prices Rise as US Inventories Fall for Fifth WeekCrude Prices Rise as US Inventories Fall for Fifth Week

Source: Bloomberg

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

DISCLOSURES