Oil prices are moving sideways on Wednesday as traders continue to digest last week’s gains while keeping an eye on this week’s key figures and financial reports from major companies, Bloomberg News reports.

A barrel of US West Texas Intermediate (WTI) oil costs USD 75.55 on Wednesday morning, down 0.3 percent from the previous day.

At the same time, the European reference oil, Brent, is trading at USD 79.56, which is 0.1 percent less than the day prior.

”Crude oil is trying to find its level after last week’s rally,” says Vandana Hari, founder of research firm Vanda Insights, according to Bloomberg.

At the same time, she calls the market extremely volatile in a period where the accounting season has really kicked off – not least in the US, where both major banks and tech giants have released figures, and even more will follow in the coming days.

Last week, Russia’s seaborne crude exports fell to a six-month low, and the country plans to continue the lower shipments in the third quarter.

The price was also supported by another month of slowing inflation and an improved economic situation in the US.