24 August 2016 at 13:55 GMT
EIA weekly inventory report up next. Crude oil continues to swing wildly with negative fundamentals being met by verbal support from oil producers. The weekly inventory report at 1430 GMT is expected to show declines in both crude oil and gasoline inventories. This is in contrast to the 4.46-million barrels rise in crude inventories reported by the API yesterday. Last week the report proved supportive with declines in oil, gasoline and Cushing inventories all supporting additional short-covering.
Latest data below with updates being posted here following the release