We should see a retreat in prices after the US inventory data is released. That's because I expect a significant build in crude, in the range of five to six million barrels.
We might see a bigger drawdown than the market consensus. I expect refining rates to have gone up last week.
This being the last day of the week I expected prices to come down on profit-taking.
The geopolitical risks are still there. Because of these risks, I expect crude prices to rebound.