• Forex
  • Investments
  • Loyalty program
  • Promotions and contests
  • Analysis
  • Getting started
  • About us

Oil prices spike on inventory drawdown

Crude futures traded resolutely to the upside on Wednesday, April 14, with Brent surging 3.8% to $66.01/bbl, closing in on levels seen in early March, while WTI soared 4.1% to $62.86/bbl.

US crude inventories fell by 5.9 mln bbl over the past week, although the market expected a decline of no more than 2.9 mln. This contributed to the oil rally, which was further fueled by Saudi Arabia’s harsh rhetoric about Iran and statements by Yemeni Houthis that they have allegedly unleashed a new attack against Saudi Arabian oil facilities.

This morning, the rally has moderated as Brent is down 0.13%, having failed to hold the local high of $66/bbl, while WTI is hugging the flatline. Our Brent price forecast for today is in the range of $64.5-66/bbl.

Latest reviews

Everyone has the chance to make a profit

You don't need to trade on your own to make a profit. Make a profit by entrusting your funds to experienced traders!


There's a better website for you

A new exciting website with services that better suit your location has recently launched!

Sign up here to collect your 30% Welcome Bonus.