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Back Fundamental analysis
Oil Deflated After a 4% Overheat
Oil retraced after a rally driven
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Oil retraced after a rally driven by supply disruptions looked excessive, and an industry report pointed to rising US inventories. The Federal Reserve decision is ahead, so profit-taking on overbought assets cannot be ruled out.Today Brent fell to $108 per barrel, giving back some of its gains after rising 4% over the previous two sessions, while WTI traded around $105. The recent sharp jump was caused by the shutdown of Saudi Arabia's East-West pipeline and a halt in supplies from
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Miroslaw Bawulski,
Analytical expert of InstaForex
© 2007-2026
EUR
Summary
Neutral
Urgency
1 day
Analytic
Maxim Magdalinin
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