The price of oil has fallen in recent trade as the recent inventory data shows a build on stockpiles, weighing on WTI.
At the time of writing, WTI is trading at $38.97 and is down 1%, falling from a high of $39.81 to a low of $38.53 ahead of the close.
The official data follows on Wednesday morning (US time).
Meanwhile, as per earlier analysis:
The price is moving in accordance with the daily outlook as follows:
From a 4-hour perspective, the price might be expected to consolidate for a period at this current level of the structure prior to extending lower.