Oil steadies as traders await stockpile data
Oil prices have settled following Tuesday’s deep plunge, which was caused by reports of a partial withdrawal of Russian troops at the Russian side of the border with eastern Ukraine.
Wednesday morning, a barrel of US reference oil WTI trades at USD 92.06 against USD 90.86 Tuesday afternoon, down from USD 95.01 on Tuesday morning, which represents the sharpest decline of the year.
A barrel of European reference crude Brent costs USD 93.18 against USD 92.20 Tuesday afternoon and USD 96.05 Tuesday morning.
At the same time, traders are waiting for data on US stockpiles to be released later this afternoon. A fall in crude oil of 0.9 million barrels is expected, while gasoline stockpiles are expected to have increased by 0.5 million barrels.
Compared to Tuesday, the price of a troy ounce of gold is virtually unchanged at USD 1,853.91.
.jpg&w=384&q=75){kind=logo}
