14 September 2016 at 13:32 GMT
Crude oil has run into renewed selling ahead of the EIA petroleum status report at 14:30 GMT. The monthly reports from Opec and the IEA have helped set the negative tone this week with both looking for an extended period of oversupply. The American Petroleum Institute saw crude inventories rise by only 1.44 mb last week while a BBG EIA survey points to a 4 mb increase. Last week the temporary disruptions to imports triggered a drop of 14.5 mb and the market may be nervous that inventories will show a bigger-than-expected rise.
Gasoline inventories and refinery demand will also be closely watched.
WTI crude (CLV6) currently testing the uptrend from the August low at $44.20/b which coincides with the 200 day moving average.