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

Oil market selling picks up

Oil prices continued to trend higher on Wednesday, May 12, with Brent rising 0.67% to $68.87/bbl, and WTI advancing 0.77% to $65.77/bbl.

All US southeastern states faced differing degrees of a gasoline shortage due to the Colonial Pipeline outage. In several states, 40-50% of gas stations were temporarily shut down. Today, the troubled refined products pipeline is partially up and running, thus alleviating the fuel shortage and possibly halting the rise in oil prices, alongside the DoE’s US crude inventory data, which showed a drawdown of 427,000 bbl last week, while the market expected a decline of 2.82 mln bbl.

Crude futures have been in decline since the opening of today's trading session, with Brent down 1.52%, dropping below $68/bbl, and WTI off 1.67%, having failing to hold $65/bbl. Today’s Brent price forecast range is $67-68.5/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.