US Inventories Figure Set to Impact Crude

After tumbling more than $4 a barrel earlier in the week, crude oil saw another bearish day yesterday, as investors continued to sell off riskier currencies and commodities. Crude spent much of the day trading around the $96.50 level, well below last week's high of $100.38. Today, oil traders will want to pay particular attention to the US Crude Oil Inventories figure, set to be released at 14:30 GMT. Should the indicator come in above expectations, it may signal to investors that demand in the US has gone down, which could result in the price of crude slipping further during afternoon trading.

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