The price of Brent risks falling to $100

On Wednesday, June 22, according to the results of the day, Brent crude oil fell by 4.36%, to 109.73 per barrel. Oil prices fell sharply after the US Federal Reserve spokesman Barkin, who announced an impending recession. As a result, investors have focused on demand concerns as recessionary expectations rise. The price tried to recover from the $110-$111 per barrel zone, but eventually broke through it, dropping to $107 per barrel.

Data from the American Petroleum Institute showed that oil inventories increased by 5.607 million barrels (forecast was -0.6 million), gasoline stocks - by 1.216 million barrels (forecast was -0.5 million). Distillate inventories fell by 1.656 million barrels (forecast was +0.3 million)

On Thursday, June 23, at auction in Asia, oil costs $109.19. The price broke through the important level of $110. Falls to $100 increased sharply. As long as the price has not gone under the trend line (technical analysis), buyers have the opportunity to return the course back. If not, they will have to retreat.