Brent oil lost momentum and pulled back towards the $64.00 level. From a big picture point of view, Brent oil stays range-bound.
In case Brent oil manages to settle below the $64.00 level, it will head towards the support level at $62.00 – $62.50.
WTI oil is losing ground as traders react to the EIA report, which showed that crude inventories decreased by -2.8 million barrels from the previous week.
If WTI oil settles below the $60.00 level, it will move towards the support level at $57.50 – $58.00.
