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Message: [QUOTE="Vistabrokers, post: 85228, member: 32993"] [b]Vista Brokers: Oil Falls prior to Fresh API Data[/b] [img]http://www.hostpic.org/images/1506231438090088.jpeg[/img] On Tuesday, futures on West Texas Intermediate are declining, having lost in early European trading 0.44% to $ 60.12 per barrel. Vista Brokers analysts say that investors are waiting for the fresh data from the American Petroleum Institute, which will show the last week change in volume of crude oil and petroleum products inventories in the US. Statistics on stocks reflects the change in the volume of consumption of the world's largest buyer of oil, so that this data is quite important for the market. On Wednesday, the oil market participants will also expect official statistics from the Energy Department, which is expected to show a decline in crude inventories in the United States by 1.8 million barrels for the week ended June 19. Analysts recall that some time ago the pressure on the "black gold" price was provided with the fact that the level of oil production in the US is in no hurry to fall, despite the reduction in the number of drilling rigs. Thus, according to Baker Hughes, the number of drilling rigs has been declining for the 28th consecutive week, but production thus remains at the level of 9.6 million barrels per day, which is the highest since 1970s. Nevertheless, today on ICE Futures Exchange in London August futures for Brent have fallen by 0.08% to $ 63.29 per barrel. The spread between Brent and WTI is at $ 3.17 a barrel. Waiting for the evening data on stocks in the United States does not prevent participants of the oil market, as, indeed, participants of all financial markets, from closely monitoring the situation in negotiations of Greece and its creditors. Recall that on Monday at the meeting of the Eurogroup agreement has not been reached, but many top officials of the euro zone have indicated that it is likely to happen later this week. [/QUOTE]

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