US time on Monday, oil prices closed up slightly, intraday trading positive, US crude oil futures close to 52.00 US dollars / ounce mark, the highest hit 52.30 / ounce.
At the close, the US WTI December crude oil futures rose 0.06 US dollars, or 0.12 percent, reported 51.90 US dollars / barrel; ICE Brent December crude oil futures fell 0.38 US dollars, down 0.66 percent, reported 57.37 US dollars / barrel.
According to the average survey of six analysts expected as of October 20 week US crude oil inventories will be reduced by 2.5 million barrels, gasoline inventories will be reduced by 150 barrels, while refined oil inventories will be reduced by 1.9 million barrels.
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In addition, the week 20 week refinery utilization is expected to rise 1.3% to 85.8%.
Oil prices are still supported by disruptions in the supply of crude oil in the Middle East, all of which are worries about Iraq and Kurdistan. US oil optimism is further supported by the US service Baker Hughes Friday’s report shows that the US crude oil active drilling down three weeks, the reduction of 6 to 736. In addition, EIA announced on Wednesday, as of October 13 week US crude oil production fell to 8.4 million barrels.
In addition, after OPEC officials’ remarks last week, traders remained optimistic. OPEC officials said last week that the current cut-off agreement would help to achieve market rebalancing.
Position, CFTC latest report shows that as of October 17 week crude oil speculative net long positions down to 3 weeks low.
The industry said that the technical, the US oil upstream resistance is located in the October 16 high 52.37, further resistance in September 28, such as the high 52.86, such as the break is on April 12 high 53.76; down the direction of the initial
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