Instead of holding steady, oil prices rallied sharply. The reason was statistics on US crude oil reserves, which were not supposed to make a difference. After all, stocks were expected to climb by only 187,000 barrels.
In fact, US crude oil inventories fell by 6.076 million barrels. Such a steep drop caused concern and even panic in the market. This means that the United States will inevitably have to refill oil reserves. This in turn may lead to energy shortages. So today's data on fuel reserves from the US Energy Department is of crucial importance. Gasoline inventories are forecast to have shrunk by 1.617 million barrels. If the indicator meets analysts' expectations, thus confirming yesterday's American Petroleum Institute figures, oil prices may well overcome $80 per barrel and even consolidate above this mark.
Meanwhile, Brent crude oil futures keep edging higher. The benchmark has almost reached the 80 mark, where the volume of long positions seems to be decreasing. If the price fails to consolidate above this level, the market may see a rebound. In the long run, this may indicate that a correction cycle from the level of 70 is over. However (*), if the price stays firm above 80, the asset will continue its upward correction, heading toward the 85 mark.
Gold is still trying to stabilize in the range of $1,950 to $1,975 per ounce. Apparently, the yellow metal will succeed since there are no fundamental factors that could have a severe impact on gold. However, in case of rising concerns about possible energy shortages, the asset will have a chance of returning to $2,000 per ounce. After all, the shortage of fuel or its high prices may put the global economy at risk. In this case, investors will shift their focus to more reliable trading instruments, that is, safe-haven assets such as gold.
The Russian currency continues to trade in the range of 76 to 77 rubles per dollar. The only thing is that it has shifted to the upper boundary of the range. Given that the situation in terms of macroeconomics and politics remains unchanged for the ruble, the most likely scenario for today suggests a gradual shift toward the lower boundary.
That’s all for now. We wish you profitable deals. See you on our channel with a new video in a couple of hours!

00:00 Introduction
00:21 US Oil Stocks
01:13 Brent
01:49 Gold
02:39 USD/RUB
03:06 Conclusion

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