Crude Oil Futures fell about 0.7% in the early European trading session.

The market rose in yesterday’s session by the lower API and EIA inventories data while higher production and rig count data might pressure. About 16% of the US Gulf’s oil production remained offline Wednesday.

The hourly trades are rotational in the Quarter’s value, hence traders might lean on the extremes while the median-term to longer-term perspective testing swing highs for selling on the monthly.

Lower distribution around the Quarter’s DVWAP might be an area for buying interest while the lows as risk placement are targeted as possible absorption zone.