This week started with the talk of the United States banning Russian oil exports, so XBR/USD saw $130 a barrel. Then the ban became reality. What does it really mean for the market?
How will Brent React to Crude Oil Inventories?
What will happen?
Crude oil inventories will be announced at 17:30 MT (GMT+3) on Wednesday, September 29.
The indicator presents a change in the number of barrels of crude oil held in inventory by commercial firms during the past week. It measures supply and demand imbalances in the market, which can lead to changes in production levels and price volatility.
Last time the result was lower than the expectations, as the result XBR/USD gained $1.2.
How to trade on Crude oil inventories data?
- If the indicator is greater than forecast, the XBR/USD is likely to fall.
- If the indicator is lower than forecast, the XBR/USD is likely to rise.
Instruments to trade: XBR/USD, XTI/USD
All eyes on Crude oil inventories data!
Open the XBR/USD chart and follow the event on Wednesday at 17:30 MT!
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