Crude oil slides after EIA data shows surprise build in inventories. WTI falls toward $73.00, down 1.10% for the day. WTI (oil futures on NYMEX) dropped to $73.10 reaching a 2-day low after the release of inventory data. Crude was already down for the day affected by a warning from US President Trump to OPEC countries to reduce prices. The US Energy Information Administration informed that commercial crude oil inventories increased by 1.2 million barrels last week. Market consensus expected a decline of 3.5 million barrels. The data surprised oil traders and sent prices lower. WTI found support so far above the $72.80 area but it was under pressure. A break lower could trigger more sales. On a daily basis, crude was down 1.10%, having the worst day since June 15. Technical levels To the upside, resistance levels might be seen at $74.85 (Jul 4 & 5 high), $7.00 and $75.33 (2018 high). On the flip side, support could be located at $72.80 (weekly low), $72.30 (Jun 28 low) and $71.05. 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 Crude Oil WTI: Oil falls on EIA and finds support at $73.00 a barrel FX Street 3 years Crude oil slides after EIA data shows surprise build in inventories. WTI falls toward $73.00, down 1.10% for the day. WTI (oil futures on NYMEX) dropped to $73.10 reaching a 2-day low after the release of inventory data. Crude was already down for the day affected by a warning from US President Trump to OPEC countries to reduce prices. The US Energy Information Administration informed that commercial crude oil inventories increased by 1.2 million barrels last week. Market consensus expected a decline of 3.5 million barrels. The data surprised oil traders and sent prices lower. WTI… Top 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.
