US commercial crude oil inventories rose 2.0m barrels in the week ending March 13, below expectation 3.5m barrels. At 453.7m barrels, inventories are about 3% below the five year average for this time of year.
WTI crude oil break through 27.69/50 key support level today and stays weak after the release. Near term outlook will now stay bearish as long as 36.54 resistance. WTI should be taking long term support zone between 10.65 and 17.12 made between 1998/2001.
