Crude oil prices gained traction in the last hour following the weekly API report and the barrel of West Texas Intermediate rose to a daily high $56.06 in the post-settlement trade. As of writing, the WTI was trading at $55.95, adding 1% on the day. In its weekly publication, the American Petroleum Institute announced that crude oil inventories in the U.S. fell by 4.2 million barrels in the week ending February 22 to 444.3 million. “Refinery crude runs fell by 235,000 barrels per day, API data showed. Gasoline stocks fell by 3.9 million barrels, compared with analysts’ expectations in a Reuters poll for a 1.7 million-barrel decline,” Reuters noted. Earlier today, several news outlets reported that OPEC and its allies were looking to maintain the output cuts despite U.S: President Trump’s recent criticism. Technical levels WTI Trends: Daily SMA20: 54.9 Daily SMA50: 51.81 Daily SMA100: 55.01 Daily SMA200: 62.58 Levels: Previous Daily High: 57.67 Previous Daily Low: 55.23 Previous Weekly High: 57.92 Previous Weekly Low: 55.72 Previous Monthly High: 55.48 Previous Monthly Low: 44.52 Daily Fibonacci 38.2%: 56.16 Daily Fibonacci 61.8%: 56.74 Daily Pivot Point S1: 54.64 Daily Pivot Point S2: 53.72 Daily Pivot Point S3: 52.2 Daily Pivot Point R1: 57.08 Daily Pivot Point R2: 58.6 Daily Pivot Point R3: 59.52 FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next GBP/USD rallies to 5-month high as bulls lean on Brexit extension bets FX Street 4 years Crude oil prices gained traction in the last hour following the weekly API report and the barrel of West Texas Intermediate rose to a daily high $56.06 in the post-settlement trade. As of writing, the WTI was trading at $55.95, adding 1% on the day. In its weekly publication, the American Petroleum Institute announced that crude oil inventories in the U.S. fell by 4.2 million barrels in the week ending February 22 to 444.3 million. "Refinery crude runs fell by 235,000 barrels per day, API data showed. Gasoline stocks fell by 3.9 million barrels, compared with analysts' expectations in a… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
