2:23 PM · 29 August 2022

Oil makes up for last week's losses

Oil prices are up around $2 today, despite news from the head of the IEA that further reductions in strategic stocks are being considered. The reduction is, of course, primarily in the United States, where up to 1 million barrels per day is being released to the market!

Oil is making up for losses from the end of last week, despite the fundamentally negative news from the IEA. Nevertheless, the rebound in oil can also be linked to the recovery on EURUSD. Source: xStation5

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