Oil #Brent

On Wednesday, April 20, according to the results of trading, Brent crude oil fell by 0.22% to $107.21. During the European session, the price fell to $104.62, from which it recovered to $107.94 after the release of the US Department of Energy report.

According to the latest data, US oil inventories last week fell by 8.02 million barrels to 413.73 million barrels (the forecast was +3 million barrels). Inventories of gasoline decreased by 761 thousand barrels, distillates - by 2.66 million barrels. Their reduction was expected by 1.1 million barrels and 800 thousand barrels, respectively. US oil production rose by 100,000 bpd to 11.9 million bpd.

On Thursday, April 21, a barrel of Brent costs $107.85. Buyers are doing their best to keep the price above $100 per barrel until new growth drivers appear. Since March 9, 2022, a narrowing formation has been forming. She talks about uncertainty for two months. Its boundaries narrowed to $99.00 - $112.55 from $133.10 - $96.90. An upside break will open the way for buyers to $120. A downside break would send the price down to $91.50.