Crude oil price fell deep into the bear territory after the EIA released inventories data for the past week. XBRUSD declined sharply to a low of $55.46.
Crude oil price is seen consolidating the recent up move to two-week highs of $ 58.58, as the bulls take a breather ahead of EIA report.
Crude oil price falls sharply yesterday to settle at the $56.30 to $56.50 support area and the selling continues this morning.
Crude oil price free fell during yesterday’s session after a long divergence between the price and the momentum which began last week.
After closing at $51 on Wednesday, marking the lowest recorded closing price since January 8th, crude oil price resumes upward trend above $52.5.
Crude oil price declines sharply after the EIA released weekly inventory data. The numbers showed that the inventories rose by 6.7 million barrels.
Crude oil price rebounds as expected during Friday's session erasing nearly 2.5% from its losses after pulling back from the oversold zone.
Yesterday, the price declined and almost reached Monday’s low of $68.50. Today, crude price rises slightly to a high of $69.80.
Yesterday, crude price surged after the United States refused to extend the existing waivers on Iran purchases. Will XTIUSD continue upward move?
Crude oil price remained near YTD highs after the EIA released its weekly inventories data. Will the XTIUSD pair will continue moving upwards?