While Heating Oil is in the midst of a 4 day up trend Now turning against its recent performance, NYMEX Heating Oil is down to $3.93 per gallon, after ending yesterday at $3.97. Overall, a 0.9% loss or 3.57 cents today.
United States New Home Sales (Sep) is next today at 14:00 UTC.
United States Consumer Confidence published yesterday at 14:00 UTC came out at 102.5, falling short of the 106.5 projections and continuing its decline from the previous 107.8 figure.
Amid the market gloom, United States API Weekly Crude Oil Stock came out at 4.52 million, while a consensus of analysts was expecting 200,000. United States 2-Year Note Auction released yesterday at 17:00 UTC with a figure of 4.46, while the previous figure was 4.29.
In the meantime, negative performances are also seen in other Energy as Brent Crude Oil withdraws 1.28% to trade around $92.32.
Energy have been showing mixed performances as Natural Gas moves 0.62% to trade around $5.65.
With markets struggling for positive sentiment, upcoming macro data could potentially attract buyers in the market as as things stand, upcoming United States Core Durable Goods Orders data is projected to fall short of market expectations with newly published data of 0.2%, following on from the preceding figure of 0.3%. New data is set to be published tomorrow at 12:30 UTC.
Moreover, United States GDP is projected to outperform its last figure with 2.4. It previously stood at -0.6; data will be released tomorrow at 12:30 UTC. United States Crude Oil Inventories is projected to outperform its last figure with 1 million. It previously stood at -1.73 million; data will be released today at 14:30 UTC.
The commodity has been trending positively for about 29 days. Heating Oil has recovered 92.23% since descending to a significant low of $2.06 around 10 months ago.