While NYMEX Heating Oil is on a 4 day uptrend Today's session might suggest a slow down — after dropping down to $3.23, NYMEX Heating Oil recovers some losses and is currently trading at $3.29 per gallon.
United States's Retail Sales new data released of -0.6% below its previous figure.
This uncertain state for NYMEX Heating Oil is reflected by published market data as United States Core Retail Sales published today at 13:30 UTC came out at -0.2%, falling short of the 0.2% projections and continuing its decline from the previous 1.2% figure. Highly important Retail Sales data from United States beat analyst expectations of -0.1% with a reading of -0.6%. United States Philadelphia Fed Manufacturing Index (Dec) released today at 13:30 UTC with a figure of -13.8, while the previous figure was -19.4.
Following today's trading session, chart analysis suggests Heating Oil is approaching key support, around 14 cents away from $3.14. Dipping below could indicate further losses are ahead while a failure to break below this level is likely to be seen positively by market bulls.
Meanwhile, mixed performances are seen in other Energy as Natural Gas rallies 7.08% to trade around $6.88. Brent Crude Oil is down to $81.4, losing $1.3, after closing at $82.7 in the preceding trading session.
NY Heating Oil is now trading 33.72% below the significant high of $4.94 it set around 7 months ago.