After closing the previous trading day at $82.45, Brent crude oil is up to $83.87 per barrel, which makes for a move of 1.72%/$1.42 today.
United States ISM Manufacturing PMI (Feb) is next today at 15:00 UTC.
On the flip side, United States Consumer Confidence published yesterday at 15:00 UTC came out at 102.9, falling short of the 108.5 projections and continuing its decline from the previous 106 figure.
At the same time, United States API Weekly Crude Oil Stock released yesterday at 21:30 UTC with a figure of 6.20 million, while the previous figure was 9.89 million. United States Chicago PMI (Feb) came out at 43.6, while a consensus of analysts was expecting 45.
Brent Crude Oil's upper Bollinger Band® is at $86.55, this is a slight indication of a slowdown.
Overall, looking at the technical analysis landscape, it seems ICE Brent crude is likely to reverse course and start pointing down in the short term.
Other Energy are showing mixed performance as Heating Oil trades with no major change, around $2.82.
Furthermore, the market is looking at United States Crude Oil Inventories projected to come out at 457,000 — worse than previous data of 7.65 million; data will be released today at 15:30 UTC. Projections for United States Initial Jobless Claims are set for a continuation of decline with 195,000 while previous data was 192,000; data will be released tomorrow at 13:30 UTC.
Furthermore, the market is looking at United States ISM Manufacturing PMI (Feb) is scheduled for today at 15:00 UTC.
11 months ago ICE Brent crude reached a significant high of $129.12 but has consequently lost 36.14% since then.