"The U.S. Energy Information Administration reported Wednesday that crude supplies declined by 9.9 million barrels for the week ended June 22-the largest weekly decline so far this year. Analysts surveyed by S&P Global Platts had forecast a fall of 2.3 million barrels, while the American Petroleum Institute on Tuesday reported a drop of 9.2 million barrels, according to sources. Gasoline stockpiles, however, rose by 1.2 million barrels for the week, while distillate stockpiles were unchanged for the week, according to the EIA. The S&P Global Platts survey forecast supply increases of 160,000 barrels for gasoline, and 500,000 barrels for distillate stocks."
"Traders also showed concerns over U.S. threats to sanction countries that don’t stop importing oil from Iran by Nov. 4."
Crude breaking out to the upside?
Crude 3 month chart
| |
Crude 1 year chart below
| |
Crude 5 year chart below
| |
Crude 10 year chart below
| |
Unleaded Gasoline Price Charts:
| |
| |
5 year........are we headed back to the highs?
| |
| |
https://www.gasbuddy.com/GasPriceMap?z=4
With futures prices sharply higher this morning, prices at the pump will jump quickly......... fill up now and maybe save a couple of bucks.
https://blog.fxpro.co.uk/market-snapshots/28062018-brent-crude-oil-wave-analysis-june-28-2018/
Brent Crude Oil is likely to rise further and re-test the next powerful resistance level 80.00 (which stopped the sharp uptrend in May).
