WTI remains below $45.00 on EIA

Crude oil prices keep the bearish note on Wednesday, with the barrel of West Texas Intermediate around the $45.00 mark following the EIA’s report.

WTI unchanged after EIA

Prices for the WTI stayed pretty much the same after the EIA reported crude oil supplies increased by more than 2.4 million barrels during last week, more than initially estimated.

Further data saw Gasoline inventories decreasing by more than 2.8 million barrels while supplies in Cushing rose marginally.

Today’s build in inventories add to yesterday’s increase of nearly 4.4 million barrels reported by the API, keeping the demand for the back gold subdued at current levels.

WTI levels to consider

At the moment the barrel of WTI is losing 0.47% at $44.77 facing the immediate support at $43.10 (low Nov.9) followed by $42.55 (low Sep.20) and finally $39.19 (low Aug.3). On the flip side, a break above $46.19 (100-day sma) followed by $47.07 (55-day sma) and finally $48.21 (20-day sma).

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