Will US Inventories Data Help Crude Oil Reverse Last Week’s Losses?

By FOREXYARD,  July 10, 2012, 10:29:40 AM EDT

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At FOREXYARD, we believe in keeping our clients prepared for potentially significant news events. As such, traders will want to carefully monitor the US Crude Oil Inventories figure, set to be released on July 11th, at 14:30 GMT. Demand in the United States, the world's leading oil consuming country, tends to have a direct impact on the price of crude. As can be seen in the chart below, the price of oil spiked by almost $1.50 a barrel on June 13th after the US inventories data showed crude stockpiles falling by 0.2 million barrels the week before.

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Don't miss out on another opportunity to capitalize on market volatility!

Should Wednesday's news show crude oil stockpiles fell again last week, investors may take the news as a sign that demand in the United States is increasing, which may help oil reverse some of its recent losses. This is an excellent opportunity for forex traders to take advantage of potentially significant news, so don't miss out!




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Forex and Currencies

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