24 Apr 2019 13:54

VIEWPOINT: Expect oil prices of $73-74$/barrel - Promsvyazbank

MOSCOW. April 24 (Interfax) - "The effect from the United States' decision to do away with eight countries' waivers for Iranian oil is gradually wearing off. Oil didn't have the momentum to test $75 per barrel. API statistics showed crude reserves growing 6.9 million barrels and gasoline reserves growing 2.2 million barrels. Distillate reserves fell 0.8 million barrels. This doesn't add grounds for the resumption of oil's upward trend. Today, official data from the U.S. Department of Energy will be in the focus. We believe oil will be in the $73-74/barrel zone," Promsvyazbank head analyst Yekaterina Krylova said.

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