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The EIA crude oil production implied demand data for the week ending June 19 in the United States was 20.259 million barrels per day, compared with 20.12 million barrels per day in the previous week.1. EIA Report: U.S. crude oil exports increased by 342,000 barrels per day to 4.669 million barrels per day in the week ending June 19. 2. EIA Report: U.S. domestic crude oil production increased by 13,000 barrels to 13.819 million barrels per day in the week ending June 19. 3. EIA Report: Commercial crude oil inventories, excluding strategic reserves, decreased by 6.088 million barrels to 412 million barrels, a decrease of 1.46%. 4. EIA Report: The four-week average supply of U.S. petroleum products was 20.473 million barrels per day, an increase of 2.11% compared to the same period last year. 6. EIA Report: U.S. commercial crude oil imports, excluding strategic reserves, were 5.57 million barrels per day in the week ending June 19, an increase of 436,000 barrels per day from the previous week.U.S. EIA Strategic Petroleum Reserves fell by 9.06 million barrels in the week ending June 19, compared with a previous weeks decrease of 8.941 million barrels.U.S. crude oil inventories at Cushing, Oklahoma, reported a decrease of 1.077 million barrels in the week ending June 19, compared to a decrease of 1.606 million barrels in the previous week.U.S. EIA crude oil inventories for the week ending June 19 decreased by 6.088 million barrels, compared to an expected decrease of 4.461 million barrels and a previous decrease of 8.263 million barrels.

Price Analysis of the US Dollar Index: DXY Retreats from 104.00, Rising Wedge Anticipated

Alina Haynes

May 12, 2022 10:27

During Thursday's Asian session, the US Dollar Index (DXY) fails to continue the previous two days' upward momentum, trading on the defensive around 103.95.

 

In doing so, the dollar index remains near the 20-year high reached earlier in the week, but for the first time in three days, the daily decline is recorded.

 

In addition to highlighting a 12-day-old rising wedge bearish pattern surrounding the multi-day top, the DXY's most recent decline also reveals a multi-day top-adjacent rising wedge formation. The slow RSI also highlights the significance of the chart pattern.

 

However, a decisive breach below 102.90 is required to validate the potential decline to 101.30.

 

During the fall, the 100-SMA and monthly low between 102.65 and 102.35 will serve as intermediate stops.

 

Until the quote continues below the indicated wedge's resistance line, approximately 104.30 as of press time, a recovery appears elusive.

 

After that, a slow climb to the September 2002 high of 109.80 cannot be ruled out.

Four-hour DXY chart

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