FXstreet.com (Barcelona) – Oil price suffered a boost up to hit a fresh 2-month high ($82.93) as it fleetingly broke above the $82.90 mark. Price failed to hold and after briefly driving through the highs retreated off on a $2 downleg move towards $81.09 (intra-day low).
In recent hours, the crude lifted up off lows seeking equilibration once the jerky and choppy fluctuations are gone and prices stabilize. Momentarily the price settles just under $82.00 level at $81.88 (23:40 GMT).
Volatility and bidding on the benchmark crude for April came after the US Government reported US crude oil supplies grew shorter than expected. The EIA numbers showed growth topped 1.3 M barrels as opposed to 2.1 M barrels previously forecast.
In recent hours, the crude lifted up off lows seeking equilibration once the jerky and choppy fluctuations are gone and prices stabilize. Momentarily the price settles just under $82.00 level at $81.88 (23:40 GMT).
Volatility and bidding on the benchmark crude for April came after the US Government reported US crude oil supplies grew shorter than expected. The EIA numbers showed growth topped 1.3 M barrels as opposed to 2.1 M barrels previously forecast.
