London — Oil rose towards $75 a barrel on Wednesday ahead of an industry report expected to show US crude inventories dropped more than expected, bringing the focus back to a tight supply and demand balance rather than rising coronavirus infections.
“This price catalyst may inject some much-needed momentum into proceedings, especially after the API set a bullish tone,” said Stephen Brennock of broker PVM, referring to the EIA report. “Oil supply is likely to remain tight even with the production hikes set by Opec+," said Naeem Aslam of online broker AvaTrade.
I entrusted Judith_william9 with my money since I took rush of investing my money with her platform, and since then I've recovered all I lost to scams. Get in touch with Judith_william9 and get a good mentorship and safe trading.