Crude Oil is trading today in the European session below the $83 level.
The mood in the oil market stays subdued, WTI prices remained unchanged in today's early European trading session.
The diminished importance of geopolitical risks outweigh positive inventory figures reported by the American Petroleum Institute (API). The American Petroleum Institute (API) revealed a drop of 3.23 million barrels in crude oil inventories, a reversal from the previous week's increase of 4.09 million barrels. Market forecasts for the week ending April 19 had predicted a rise of 1.8 million barrels in inventories.