The United States has released its oil inventory data at 9:30 PM WIB tonight, delivering unexpected results. The data reveals a stock increase of 7.07 million barrels, significantly surpassing the market’s estimate of a decrease of -2 million barrels. This figure also exceeds the prior report, which recorded an inventory of 3.845 million barrels. The substantial spike in inventory suggests a potential oversupply in the market, prompting traders to react with selling actions. Consequently, oil prices plummeted sharply to $67.72 following the announcement of the data.<\/p>\n
From a technical perspective, this price drop may trigger continued bearish pressure in the short term, especially if prices fail to maintain levels above the psychological support area around $67.50\u2013$67.00. However, should a technical rebound occur from the current support area, alongside external factors like global supply disruptions or geopolitical tensions, oil prices might retest the nearest resistance zone at $68.50\u2013$69.00. For now, the negative sentiment stemming from higher-than-anticipated inventory data remains the primary driver influencing market direction.<\/p>\n","protected":false},"excerpt":{"rendered":"
The United States has released its oil inventory data at 9:30 PM WIB tonight, delivering unexpected results. The data reveals a stock increase of 7.07 million barrels, significantly surpassing the market’s estimate of a decrease of -2 million barrels. This figure also exceeds the prior report, which recorded an inventory of 3.845 million barrels. The […]<\/p>\n","protected":false},"author":4,"featured_media":76157,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[142,5173],"tags":[5175],"class_list":["post-76158","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","category-trading-analysis","tag-cls10"],"yoast_head":"\n