Crude oil prices remain negative for the day despite EIA report. WTI extends the consolidative theme so far this week. US crude oil inventories dropped by more than 12.0 mbpd last week. Prices of the barrel of the American reference for the sweet light crude oil are trading in 2-day lows despite the auspicious figures from the latest EIA report on crude oil stockpiles. WTI briefly tests $74.00 on EIA Prices of the West Texas Intermediate are receding from the previous bull run to levels above the $74.00 mark per barrel despite the EIA reported the largest draw since 2016. In fact, the EIA reported that US crude oil supplies decreased by 12.633 mbpd during last week, more than initially forecasted. Furthermore, Weekly Distillate Stocks rose by 4.125 mbpd and Gasoline stockpiles decreased by 0.694 mbpd, below initial estimates. In addition, inventories at Cushing shrunk by 2.062 mbpd, adding to last week’s 2.113 mbpd drop. In the meantime, crude oil prices are extending the sideline theme this week, as traders remain cautious over the increasing jitters on the US-China trade front and potential retaliatory measures by China. Later in the week, Baker Hughes will publish its weekly report on the US drilling activity. WTI significant levels At the moment the barrel of WTI is down 1.71% at $73.03 and a breakdown of $72.81 (low Jul.11) would target $72.62 (low Jul.6) and finally $70.43 (21-day sma). On the other hand, the next hurdle is located at $75.34 (2018 high Jul.4) seconded by $77.95 (high Nov.21 2014) and then $79.92 (high Nov.8 2014). Â 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 Bitcoin Cash Technical Analysis: BCH/USD struggles to hold above $700 FX Street 4 years Crude oil prices remain negative for the day despite EIA report. WTI extends the consolidative theme so far this week. US crude oil inventories dropped by more than 12.0 mbpd last week. Prices of the barrel of the American reference for the sweet light crude oil are trading in 2-day lows despite the auspicious figures from the latest EIA report on crude oil stockpiles. WTI briefly tests $74.00 on EIA Prices of the West Texas Intermediate are receding from the previous bull run to levels above the $74.00 mark per barrel despite the EIA reported the largest draw since 2016.… 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.